XRP Price Plummets 7%: Is a Fall to $2 Inevitable?

XRP Price Decline: XRP has dropped 7% since last week, falling below the $3 mark after a rally that peaked at $3.40, raising concerns about further corrections.

Technical Analysis: The price is under pressure with key moving averages above current levels, immediate support near $2.80, and potential for a drop to $2.50 if this level fails.

Market Risks: The broader crypto market is vulnerable, particularly if Bitcoin drops significantly, which could lead to amplified losses for altcoins like XRP.

Price Predictions: A recovery above $3.10 could signal a rebound, while failure to maintain above $2.80 may push XRP towards $2.50 or even $2.00 in a bearish scenario.