The cryptocurrency market started the week with a sharp retreat, but prices tried to recover in a short time. Bitcoin 
$86,989.86 After falling to 84 thousand dollars, it rose above the 86 thousand dollar band again, while the real struggle on the XRP front is around the psychological level of 2 dollars. Maintaining the $1.90 support in intraday trading encouraged short-term buyers again. While XRP is currently priced at $ 2.02, investors’ eyes are again turned to the $ 2.20 resistance.
Strengthened by 1.90 Support, XRP Pushes $2.20
On the first trading day of the week, XRP dropped from $2.10 to $1.95 in parallel with the general market sales. However, the lack of a permanent break below $ 1.90 allowed the price to turn its direction upward again. On the technical view, the 20-day exponential moving average on the 4-hour chart appears to be concentrated around $2.20. This level also stands out as the strongest resistance point in recent days.
The fact that the Relative Strength Index (RSI) is just above 30 shows that XRP is still in the weak zone, but the overselling pressure is slowly decreasing. The MACD indicator indicates that the selling pressure has not completely disappeared yet. If the price can sustain above $2, testing $2.20 stands out as a technically strong scenario. If this level is exceeded, the $ 2.35 – $ 2.40 band may turn into a new short-term target area for XRP. In an opposite scenario, breaking $1.90 could trigger a new weakening wave that could carry the price up to $1.60.
Global Financial Pressure Suppresses Prices, All Eyes on Japan
The view that the main reason behind the recent declines in XRP and the overall crypto market is global financial conditions rather than company or project-based developments is becoming stronger. According to crypto commentator Austin Hilton, the XRP decline of approximately 10 percent in recent days is not a movement unique to the crypto market. In the same time period, similar losses were seen in the Dow Jones, NASDAQ and S&P 500 indices, and more than $100 billion in value was erased from global markets within hours.
Japan is at the center of this pressure. The emergence of the possibility of the Bank of Japan increasing interest rates on December 19 leads to the resolution of the “yen carry trade” transactions that have been going on for many years. Large funds that focus on risky assets by borrowing yen at low interest rates and converting them into dollars are forced to close positions due to rising Japanese bond interest rates. This brings about simultaneous sales in many asset classes, from cryptocurrencies to stocks.
In addition to this picture, another price-oriented news from the US front strengthened the search for direction in the market. It has been announced that there has been a net outflow of over $450 million from Spot Bitcoin ETFs in recent days. Spot Ethereum in the same period 
$2,804.64 Their ETFs also saw weak inflows. This slowdown on the institutional money side stands out as another factor that limits the upward movements in altcoins, including XRP, for now.
