XRP Warning: Why Ripple’s Price Could Plunge 23%

The past months have not been kind to Ripple’s cross-border token, whose price is down roughly 65% on a yearly scale.

One analyst warned that it may soon fall well below the $1 psychological mark, while many others remain optimistic that a major rebound is coming next.

Going Further Down?

As of press time, XRP trades at around $1.08, which translates into a 4% weekly loss. According to X user Hamza, the asset’s recent decline has resulted in a breakdown from a critical symmetrical triangle that could lead to an additional pullback.

The analyst claimed that retail is still “bagholding on hope” while smart money had left and set a target of $0.836. At the same time, they said a potential rise to $1.16 would invalidate the bearish setup.

FOUR | Crypto Spaces also issued a pessimistic forecast, envisioning a plunge to $1.02, while Carl Hawley opined that XRP has shown “extreme weakness” on higher timeframes, making the asset the most oversold since COVID times. Usually, entering such a territory is a precursor to a resurgence, yet the analyst couldn’t predict the exact direction of the upcoming move, saying:

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