Is Ripple’s XRP in Trouble? Analysts Eye Key Support Before Another Crash
The Ripple-linked token is trading near a critical level after losing ground during a market-wide decline. The price has fallen sharply alongside other major cryptocurrencies. With pressure building, traders are focused on whether this zone will hold or give way to further losses.
XRP Drops Toward Key Support
At the time of reporting, XRP trades around $1.77 after falling more than 5% in the last 24 hours. Over the past week, the token has been down more than 7%. The daily trading range is between $1.73 and $1.87. This drop brings XRP to its lowest point since early October, when it briefly dipped below $1.60.
The move followed a sharp pullback in the broader market. Bitcoin led the decline, triggering liquidations across altcoins. XRP was no exception. Futures data shows nearly $71 million in XRP long positions were liquidated, adding to the selling pressure.
Analysts Warn of a Break Toward $1.50
Technical analyst ChartNerd said XRP may be forming a Wyckoff “Spring” pattern, which could lead to a short-term recovery if support holds. But they also warned that continued weakness below $1.80 could confirm a bearish setup.
If this support zone breaks, $1.50 is the next level many traders are watching. That zone hasn’t been tested since October and remains a key point on several charts.
Meanwhile, analyst BitGuru noted that XRP is resting on a base after a long slide. This area has seen buyers return in the past.
Past consolidation zones between $2.20 and $2.50 are likely targets if the price begins to climb again. For now, the chart suggests XRP is at a decision point.
Outside of price action, Ripple’s former CTO, David Schwartz, responded to social media claims that XRP could reach $50 or $100. When asked to shut down the rumors, Schwartz said he couldn’t give exact predictions but encouraged using logic to assess big targets.
He recalled once doubting that XRP would ever reach $0.25, showing how hard it is to predict. Still, he warned against following viral claims without reason.
The post Is Ripple’s XRP in Trouble? Analysts Eye Key Support Before Another Crash appeared first on CryptoPotato.
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