XRP Price Nears Key $1.00 Test as Analyst Warns of Drop to $0.87
- XRP is testing the key $1.00 support as analysts warn of a possible drop toward $0.87.
- Tight price action and balanced liquidations suggest volatility could soon return to XRP.
- Weak spot activity and thin liquidity leave XRP vulnerable to a sharp breakout in either direction.
XRP is approaching a key technical level after losing nearly 5% over the past 24 hours. One analyst believes the token could be headed for a deeper correction toward $0.87 as bearish wave patterns continue to develop.
At the time of writing, XRP traded at $1.05. The token was down 4.7% over the past day and 7% over the past week, according to CoinMarketCap. Its monthly gain has shrunk to just 0.43%, while it remains down 42.68% year-to-date.
Expect $1.00 to Give Way
Technical analyst Casi said XRP continues to follow the previously outlined bearish “purple scenario”. So far, the price ha…
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