Amidst the swirling volatility of the cryptocurrency seas, XRP clings tightly to the precarious safety of the $2 threshold.

Despite having plummeted 20% since last weekend, the beleaguered token tenaciously anchors itself, resisting the market's tempestuous pull.

In the swirling volatility of the cryptocurrency seas, XRP is clinging precariously to the $2 threshold, despite having already plummeted 20% since last weekend. As the recent plummet continues to cast shadows of doubt across the crypto landscape, leaving investors on edge and scanning for signs of reprieve, renowned analyst Ali Martinez sheds light on XRP’s current predicament.

Breaking Point: XRP’s Shaky Stand at $2

At the moment, XRP is attempting to hold above the lower band of an ascending parallel channel, which could pave the way for further declines in the coming weeks. The critical point of interest is $1.65, which could serve as a point of support for the token.

However, if XRP fails to maintain this level and experiences a breakthrough, it could set the stage for a swift rally towards $2.30. This move would be pivotal, as it could tip the scales back towards a bullish momentum, with bulls likely to defend this stage fiercely.

On the other hand, if bears manage to seize control and push XRP below $2, it could open the door for a continuation of the downtrend, potentially leading to a test of the $1.65 support. The coming weeks will be a litmus test for XRP’s resilience as it navigates these turbulent times.

Where is XRP headed next?

Relying on technical analysis alone, the door is open for either a significant rally or downturn in the coming weeks for XRP.

As it stands, the token has slid through the lower band of an ascending parallel channel, which suggests that prices could experience further declines. However, the critical point of interest is at $1.65, where buyers are expected to emerge.

Alternatively, if XRP manages to close a weekly candle above $2.30, it could herald a swift rally towards the $3.00 psychological handle. This move would be pivotal, as it would signal a clear shift in momentum, and bulls are likely to defend this stage fiercely.

Conversely, if sellers manage to push the token below the $2 support, it could pave the way for a continuation of the downtrend, potentially leading to a test of the $1.65 support.

The next few weeks will be crucial in determining whether XRP can maintain its footing and set the stage for a new uptrend or if sellers will ultimately prevail, leading to further downside pressure on the token.

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The crypto world is watching with bated breath as XRP flirts with the precipice. Currently perched at $2.22, it flickered alarmingly close to the edge at $2.05 before finding a foothold. This is more than a mere number—it is the financial fulcrum around which hopes and fears pivot.

A reinvigorated push past $2.40 would tip the scales back towards a bullish momentum, driving bulls to defend this stage like a fortress. Yet the stakes are high: stumble, and bears may seize control, fueling further descent. Should XRP breach the critical $2 line, the ramifications could ripple outward, straining an already brittle market atmosphere.

Those tethered to XRP’s fate await the winds of change that might signal a shift in course. A strategic rebound above $2.30 could manifest as the much-needed buoy, fostering renewed optimism and potentially catapulting XRP toward promising heights.

The question remains: will XRP gracefully navigate these choppy waters, leading to a glorious rally that fills the days to come? Or will it be a sobering retreat that signals a bleak chapter in the token's narrative? Only time will tell as this unfolding drama sets the tempo of the crypto dance. For now, all eyes are riveted on the charts, where the future of XRP is being meticulously charted moment by moment.