Ripple Price Declines Post-Summit

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XRP price dip

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Business

Business & Economics

XRP Short Traders Flashing 5 Panic Signals as White House Summit Sparks Fresh BTC Speculations

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Ripple (XRP) price consolidated above the $ 2.30 mark on March 8 , down 23% from the2.9 weekly peak.

Ripple CEO Brad Garlinghouse ’s confirmed attendance at the White House Crypto Summit had raised hopes that the event could yield positive regulatory developments for altcoins.

Short-traders betting on a sell-the-news trigger now appear to be closing their positions.

The Volume-Weighted Average Price (VWAP) at $ 2.35 is a crucial pivot level; a strong close above it would strengthen the bullish case.

Failure to hold above the $ 230 support level would expose XRP to further downside, potentially testing the lower Keltner Channel boundary at $ 1.95 .

With leverage likely playing a role in upcoming moves, traders should watch for increasing open interest and funding rate shifts.

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