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In the continued uncertainty of the market, Ripple Labs' native token XRP appears bearish and prepared for a price drop. Today, on December 31, 2024, along with XRP, most assets including Bitcoin (BTC), Ether (ETH), and Solana (SOL) seem to be bleeding, causing concerns about when the price will stop falling.
XRP technical analysis and key levels
According to expert technical analysis, XRP recently broke out of the descending triangle price pattern and changed market sentiment. At the same time, the daily chart shows that XRP has successfully retested the breakthrough level, which may confirm that its price may continue to fall until support is found.
Based on the recent price trend, if the overall sentiment in the cryptocurrency market remains the same, XRP may further decline by 10% to 12%, reaching the support level of $1.83.