Compass Investments

Volatility has gripped the crypto market, causing XRP to test the $2.00 support zone.

the inflow of coins to the exchange has exceeded 55 million XRP, which hints that investors are preparing to sell the asset.

an increase in the volume of long position liquidations to $5.10 million per day indicates that traders are reducing their stake in XRP.

Improving market conditions may significantly increase the chances of XRP spot ETF approval – Kaiko Research.

Ripple (XRP) has been correcting along with other key digital assets including Bitcoin (BTC) and Ethereum (ETH), and was trading at $2.08 at the time of writing on Wednesday. The cross-border transfer token is being impacted by various factors, including global economic uncertainty, volatility and an apparent increase in currency inflows. Attention is focused on the support level of $2.00, the breakdown of which may lead to losses up to $1.95 in the short term.

Trade tensions between the U.S. and China have been a major factor, especially after President Donald Trump’s administration banned exports of H20 chips to the Asian economic giant – a move that is likely to have a negative impact on NVIDIA, which lost $5.5 billion in its fiscal first quarter ending April 27.

The U.S. stock market resumed its correction after a week of steady gains, with S