XRP Plummets 23% in a Week, Hovers at $2 Amid Crypto Market Downturn

The cryptocurrency market has been experiencing a significant downturn, with a 7.5% decline in the past 24 hours, leading to a market cap of $2.66 trillion. This decline has affected nearly all major cryptocurrencies, including XRP, which has seen a 9% drop in the last 24 hours and a more substantial 23% decline over the past 7 days. XRP's current price is hovering around $2, with strong support at this level. However, if the price fails to hold this support, it could set the stage for further declines, with possible price levels of $1.80, $1.50, and $1.20 if the market experiences a deeper correction.

Given the current market conditions, it's important to consider potential scenarios for XRP's price. If the market downturn persists, the price could fall further, testing lower targets at $1.80, $1.50, and $1.20. However, if XRP can maintain its support at $2, there may be a chance for stabilization and a recovery, provided the broader market conditions improve. Investors should remain cautious and watch for any signs of a market reversal. In either case, the next few days will be crucial in determining the future trajectory of XRP's price.