XRP slips below $2 after failed breakout triggers sharp reversal

XRP has recently attempted a breakout from its recent highs but failed, leading to increased selling pressure. This situation flipped the short-term structure to bearish as late longs were liquidated, causing a significant decline. Currently, there appears to be no clear support level below $2, leading many traders to consider further declines as possible. This selling pressure is likely prompting investors to avoid risks and aim for re-entry at more favorable prices. Additionally, the overall market environment is impacting prices, as other cryptocurrencies have also shifted from gains to declines.