XRP’s Dive Below $2: Unpacking the Downturn Amidst Market Turmoil

The digital asset XRP has recently breached the crucial $2 threshold, sparking widespread concern among investors about its near-term prospects. This significant drop is occurring against a backdrop of severe market stress, exacerbated by a wave of large-scale liquidations impacting major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). As the broader market experiences a substantial correction, XRP’s price action has been particularly impacted. The question on everyone’s mind is: where does XRP bottom out? With the current downward momentum, market observers are now identifying $0.88 as a potential next major support level. Investors are closely watching to see if this point will provide a much-needed rebound or if the altcoin is set for further declines in the volatile market landscape.