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Ripple Price Forecast: XRP price could shelve bullish breakout plan as downside risks persist :
XRP price moves broadly sideways as uptrend hopes diminish amid glaring downside risks.
Ripple is ending its eight-year quarterly report in the second quarter, favoring deep insights as institutional adoption expands.
Ripple will keep upholding transparency and sharing relevant updates on Ripple and XRP-related developments via official channels.
Support at $2.00 has the potential to absorb the prevailing sell-side pressure, potentially igniting a reversal targeting $3.00.
Ripple (XRP) price is in a slow pullback, trading at $2.11 at the time of writing on Tuesday. Recovery has remained elusive above immediate hurdles, such as key moving averages in the 12-hour time frame and the extended descending trendline from January. On the downside, support at $2.00 is crucial for the resumption of XRP's price uptrend and preventing declines from sweeping liquidity towards the April low at $1.62.
Meanwhile, Ripple has announced that it will discontinue the quarterly report it has published since 2017, citing unmet expectations and growing institutional adoption which calls for deeper insights and additional perspectives.
#XRP#