XRP Down 4%: Why $2.30 Is The Last Defense Before A Flush To $1.60

XRP (CRYPTO: XRP) is down 4% to $2.39 on Wednesday as traders brace for a potential breakdown below $2.30 — the final support before a deeper retracement that could erase months of gains.

Bearish Triangle Breakdown Threatens Further Losses

XRP Price Action (Source: TradingView)

XRP has broken below a long-term symmetrical triangle that had guided its range since mid-summer. 

The token failed to recover the 20-day and 50-day exponential moving averages, now clustering between $2.55 and $2.72. 

This rejection leaves momentum tilted lower, with repeated …

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