XRP has fallen to its lowest price in nine months, trading near the $1.59-$1.61 range as selling pressure persists across the cryptocurrency market. Analysts have identified $1.38 and $1.02 as critical support levels, with $1.86 as the nearest resistance. The decline reflects a broader risk-off sentiment, though some buyers are stepping in, as evidenced by $16.79 million in net inflows to XRP-focused ETFs on January 30.
Despite the short-term bearish outlook, some analysts maintain a positive long-term perspective, viewing the current price dip as part of a larger re-accumulation phase. They suggest that the price could stabilize between $1.50 and $1.00, offering a potential entry point for buyers. However, the market remains cautious, with the potential for further declines if key support levels are breached.
XRP Price Drops to 9-Month Lows Amidst Market Pressure
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