The wider cryptocurrency market is under pressure at the beginning of Tuesday, which is fueled by a mixture of macroeconomic insecurity, profits and a risk view.
Markets are waiting for the Fed Policy Meeting on Tuesday and Wednesday. Traders assess the 4.4% probability of central bank cutting rates.
“We assume that FED keeps interest rates permanently and avoid clear further instructions on the upcoming policy path,” said Deutsche Bank analysts in the note CnbcAdding that “the overall tone of the meeting is likely to reflect the comments of the Chairman Powell and his colleagues in the last week”.
Larger cryptocurrencies are trading and XRP is no exception. During the press, the XRP fell 3.98%in the last 24 hours, reaching $ 2.10.
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After Thursday's decline, from May 2, the XRP approached the 2 -dollar border, falling near Daily SMA 200 at a price of $ 2.07. The loss continued today, reaching $ 2.08, the fifth XRP for its fifth day from May 2. On April 28, the XRP has generally decreased with a height of $ 2.36, since six seven days have been marked by six.
Key levels to watch
Eyes are today's price action, as the XRP approaches the 2 -Dollar border, which many consider to be critical for the next move. Pack and closing less than $ 2 can be commanded by sellers, causing the XRP to re -test the critical support level to $ 1.61, where buyers are expected to jump in.
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The XRP is trapped in a trap of $ 2.60 to $ 2, indicating that buying and selling rallies. The recent decline has led that the XRP returns down to the daily SMA 50 at a price of $ 2,174, returning to trading between its daily moving average funds from 50 to 200-200, as it is from the beginning of February. Moving will increase the chances of consolidation in the coming days.
On the other hand, a decisive break can cause more than $ 2.60 to target XRP to the target of one 3 -Dollaris level.
