XRP dropped 7% after breaking the $1.79 support level.

Sudden Sales and Support Levels in XRP

XRP has decreased by approximately 6.7%, dropping to the level of $1.75 due to a sales wave in the cryptocurrency market driven by Bitcoin. This decline was triggered more by market-wide movements rather than any news specific to the token.

According to market data, the downward break of the support level at $1.79 resulted in the liquidation of over $70 million in XRP futures positions, primarily long positions. This occurred with high trading volume.

Investors have begun to evaluate $1.74 and $1.75 as critical support levels in the short term. Regaining the resistance levels of $1.79 to $1.82 is essential to balance the downside risks. On the other hand, breaking the $1.74 level could lead to a decline in price towards $1.72 and $1.70.