XRP Will Test Important Support Level At 2.01 USD: Can Buyers Regain Momentum?

XRP is currently experiencing strong volatility as part of the overall fluctuations in the crypto market. The total market capitalization of the industry has fallen by 3.81%, currently at 3.3 trillion dollars. This significant decline was triggered by widespread liquidations of traders with a total value of 712.76 million dollars. Notably, long positions account for 644.84 million dollars. XRP has undergone a liquidation worth 29.68 million dollars, with 29.26 million dollars coming from long buy orders and only 419.93 thousand dollars from short sell orders. This excessively large ratio reflects over-leveraged bullish bets and subsequent panic sell-offs. In this XRP price analysis, we explore where this token might be headed in the context of the downturn of events. Whale Activity Spikes Amid Price Fall? The outflow chart of the exchange published by CryptoQuant shows a significant increase in XRP movements today, specifically on May 30, with over 330 million XRP exiting across various ranges. Notably, in the category of 1 million XRP or more (màu green nhạt), followed by 100k–1 million XRP (màu tím) and 10k–100K XRP (màu green cây). This spike in outflows often indicates that whales are moving assets away from centralized exchanges, possibly towards cold storage or alternative platforms, which are often bullish signals in the long term

However, considering the price fall, this may also signal precautionary withdrawals in the context of an unstable market. In the short term, the decrease in foreign exchange supply may reduce selling pressure, potentially supporting price recovery. Analysis of Ripple XRP price: The price of XRP today is $2.19, marking a fall of 4.38% in the last 24 hours and a fall of 10.52% for the week. Its market capitalization has decreased to $128.72 billion, down 4.36%, although the 24-hour trading volume has surged to $3.49 billion, up 32.74%. This sudden increase in volume amidst falling prices reflects liquidation activity.

On the price chart, XRP is trading near the lowest level in 24 hours at $2.18, with resistance above at $2.26. If buyers attempt to reclaim this level, XRP could recover to the range of $2.4 to $2.5. However, continued rejection at this resistance level could push the price back to the main support zone at $2.0145.