The price of XRP continues to remain in red by reflecting the cautious stance of investors against Tokena. In particular, token’s stagnant price movement pushed many market participants to question despite the positive market developments. In this environment, a market analyst envisaged a sharp decline for XRP, referring to historical trends.

Analyst: XRP price is at risk of falling to $ 1.4!

The XRP price has increased its market concerns by watching stagnant for the last few days. Despite the positive developments, including the interest of XRP ETF, token was forced to gain acceleration. This reflected the cautious stance of investors. In this environment, a market analyst believes that XRP can see a significant correction based on past price movements. In an recent X post, Ekrag Crypto stressed that XRP increased by 230 %in July 2023, following two major corrections of 54.65 %and 59.73 %. By applying the same model to the current price cycle, the analyst argues that a 54.65 %decrease can push XRP to $ 1.54. Simultaneously, if the collapse deteriorates until a decrease of 59.73 %, it can send the price to $ 1.37.

Source: ekrag crypto

In the meantime, the Analyst said that these levels reflect the past purchasing opportunities similar to the times when they were traded at XRP Coin $ 0.54 and $ 0.37. However, he called on investors to closely monitor the price and suggested that these collapse could be “excellent purchase opportunities .. In other words, despite gloomy estimates, the potential collapse sees it as an opportunity for investors.

Basic support levels to be followed

While Ekrag Crypto pointed to a potential collapse, another analyst shared an upward view that emphasizes key support levels for the XRP price. In an recent X post, Dark Defender, pointing to a significant fibonacci level of $ 2,4467, argued that XRP may be approaching reversing. According to him, the relative power index (RSI) in the daily graph shows over -selling conditions. This means that there may be a recovery on the horizon. He also said that $ 2,33 continued to be a strong level of support for XRP.

What’s next for the XRP price?

The XRP price was traded for $ 2.43, losing 2 %value last day, while one -day volume increased by 40 %to $ 5.49 billion. In particular, Token has reached the highest 24 -hour and lowest $ 2.49 dollars and $ 2.32. In addition, token’s current RSI value was 39. This shows that crypto money is approaching the over -selling situation. However, despite this, experts continue to tend to rise, given positive market developments. For example, the XRP ETF facilities are traction with a series of players who advance their moves to launch the investment tool.

XRP Price Chart

In addition, a high -level lawyer recently implied that the USA can be included in the US strategic reserve presence when XRP reached a $ 5 sign. In addition to the discussions, several experts foresee a potential XRP price increase in the future by sharing their rise views. However, although the XRP is on the verge of falling to $ 1.4, it is seen that market sensitivity remains increasing. In addition, the upcoming correction will provide more flexibility to enter investors at a lower level.

The opinions and estimates in the article belong to analysts and are definitely not an investment advice. As Kriptokoin.com, we recommend that you do your own research before investing.