Recently, the XRP market experienced a dramatic price fluctuation. It surged rapidly from $2.78 to $3.10, and this quick pump made it feel like the fear of missing out (FOMO) was at play. However, shortly after, the price quickly fell back.

This price trend pattern seems to suggest that some large market participants may be manipulating the market. They may first lure retail investors in and then take the opportunity to cash out. This practice has raised questions about whether this breakout is genuine and valid.

Currently, the market is closely watching the key support level of 2.97-2.98 dollars. To confirm the validity of this breakthrough, XRP needs to have a solid close above this level.

For ordinary investors, this event serves as a reminder to stay vigilant and avoid blindly chasing after price increases or selling in a panic. When making investment decisions, one should consider various factors comprehensively, rather than just short-term price fluctuations. At the same time, it is important to recognize the high volatility and potential risks of the cryptocurrency market.

Overall, the recent price fluctuation of XRP highlights the complexity of the cryptocurrency market. Investors need to stay calm, manage their risks, and avoid becoming victims of market manipulation.