XRP Price Faces Resistance at $2.00 — Will Short-Term Catalysts Spark a Reversal?

XRP is currently trading near crucial support level of $2.12, but has experienced a significant decline over the past 24 hours, down by 4%. This drop is likely driven by ongoing market volatility and sentiment impacting price momentum. 24-hour volume surged to $2.97 billion, partly fueled by this selloff, while derivatives data from CoinGlass reveals a 70% increase in trading activity, with open interest declining by 3.7%. This indicates traders are shifting towards short-term plays as the market remains volatile.