XRP Faces Selling Pressure as Key Support Level Emerges Amid Market Liquidations

• Long positions have been heavily liquidated, totaling $380 million in the last 24 hours.

• The critical support level for XRP is $2.81, where approximately 1.7 billion tokens were accumulated.

• XRP is the second worst-performing token in the top 10, with a 24-hour drop exceeding 4%.

Stay updated on XRP’s performance as it faces selling pressure and key support levels. Explore more on en.coinotag.com.

What is XRP’s Current Market Situation?

XRP is currently experiencing a downturn, hitting an intraday low of $2.96. This decline is part of a broader market trend affecting major cryptocurrencies, including Bitcoin, which is also under pressure.

Why are Long Positions Being Liquidated?

Long positions in the cryptocurrency market have seen significant liquidations, with $464.70 million wiped out in the last 24 hours. This includes $380 million from long positions, indicating a strong bearish sentiment among traders.

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