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02/10 16:26

Top Experts Predict XRP Price to Fall to $1.4, Her

Top Experts Predict XRP Price to Fall to $1.4, Here’s Why

 XRP prices continue to fall, reflecting investors’ cautious attitude toward the token.  It is worth noting that although the market is developing well, the token price movement has stagnated, leaving many market participants doubtful.  In the process, a top market expert has predicted that Ripple's native cryptocurrency could fall back to $1.4, citing historical trends.

 XRP price risks falling to $1.4

 XRP price has been stagnant over the past few days, causing concerns in the market.  Despite a series of positive developments, including the XRP ETF gaining traction, the token has struggled to gain momentum, reflecting investor caution.

 Amid this, one top market expert believes that Ripple’s native cryptocurrency could be in for a significant correction based on past price action.  In a recent X post, EGRAG CRYPTO highlighted that in July 2023, XRP surged by 230%, followed by two major corrections of 54.65% and 59.73%.

 Applying the same pattern to the current price cycle, he believes a 54.65% drop could push Ripple’s native cryptocurrency to $1.54.  Meanwhile, if the crash intensifies to a 59.73% loss, it could push the price to $1.37.

 Meanwhile, experts note that these levels reflect past buying opportunities when XRP traded at $0.54 and $0.37.  However, he urged investors to keep a close eye on prices and suggested these crashes could be "excellent buying opportunities."  In other words, despite the gloomy forecast, he sees the potential crash as a bargain-hunting opportunity for investors.

 Key support levels worth paying attention to

 While EGRAG CRYPTO hints at a possible future crash, another expert has shared a bullish view, highlighting key support levels for XRP price.  In a recent X post, Dark Defender pointed to the key Fibonacci level of $2.4467, suggesting that a reversal for XRP may be imminent.

 According to him, the relative strength index (RSI) on the daily chart indicates oversold conditions, which means a rebound may be imminent.  He also noted that $2.33 remains a strong support level for XRP.

 What’s next for XRP price?

 XRP price fell 2% over the past day to trade at $2.43, while its single-day trading volume surged 40% to $5.49 billion.  Notably, the coin’s 24-hour high and low were $2.49 and $2.32 respectively.  Additionally, the coin’s current RSI is 39, indicating that the cryptocurrency is approaching oversold conditions.

 However, despite this, experts are still bullish given that the market is developing well.  For example, the possibility of an XRP ETF continues to grow as numerous players move forward with launching investment vehicles.

 Additionally, a top lawyer recently hinted that XRP could be included in a U.S. strategic reserve asset once it reaches the $5 mark.  During the discussion, several experts shared bullish outlooks, predicting that XRP price could surge in the future.

 Having said that, despite XRP’s imminent drop to $1.4, market sentiment still appears to be bullish.  Additionally, the upcoming correction will also provide investors with more flexibility to enter at lower levels.

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