Quick overview

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Ripple’s token crashed on Friday morning after Israel’s missiles struck Iran.

The token last traded at $2, a critical support level. XRP’s recent price action has not shown much strength, as the cryptocurrency is facing persistent bearish pressure since the correction phase began.

Risk-taking in the crypto market has been watered down amid the ongoing crisis in the Middle East

 

Israel started attacking Iran, but the US was not involved in the operation or providing support. A state of emergency was proclaimed across Israel by the defense minister.

The White House had threatened to take military action if nuclear talks failed, despite reports that the US was not involved. A crucial response deadline was set for Thursday. Iran had previously promised to retaliate against any assault.

XRP price started to rise last month, moving from $1.80 in early April, but seems to have begun a new bearish momentum

A clear wave of red candles has now exceeded the momentum that fueled that surge, and technical analysis suggests that XRP’s price may drop below $2 again in the coming days, approaching the April low. Interestingly, bearish volume has remained relatively low despite the ongoing decline.

This suggests that the sales might not be much, but it is also uncontested. Rather than strong selling pressure, this low-volume pullback indicated that the market is slipping due to insufficient buying pressure.