XRP Dips Below Critical Support Level Sparking Market Concerns

Key Points

1. XRP dropped 2.5% in 24 hours, falling below the $3 psychological support level to $2.96.

2. Analyst Ali Martinez suggests the real bottom could be between $2.48 and $2.40, with potential buying opportunities in that range.

3. The Tom DeMark TD Sequential indicator issued a sell signal at $3.60, often a precursor to broader downturns.

4. A decline in the Relative Strength Index (RSI) below 45 could accelerate downward momentum.

5. Whale activity included the offloading of 720 million XRP from wallets, contributing to market volatility.