Many altcoins, including Ripple’s cross-border token, joined bitcoin’s ride south yesterday, painting fresh lows. In XRP’s case, the asset dumped below $1.05 for the first time in nearly two years.
Many analysts caught the move, and some predicted an even more painful future. One extreme case envisions the token plunging below $0.20.
Most Critical Moment
The first popular analyst to weigh on XRP’s most recent moves was CasiTrades, outlining that the “move we’ve been waiting for is here.” Her comments coincided with the asset’s major correction yesterday that drove it to just under $1.05.
“The market is dropping hard, exactly the type of move we’ve been preparing for, and XRP is approaching the major support levels we’ve been tracking.”
She, like other analysts, believes the most important level to watch now for the cross-border token is the psychological $1.00 line. If it falls, she said she has put buy orders at $0.93, but there’s an even lower target at $0.87, where the macro Fib 0.854 sits. Consequently, she concluded that XRP is currently in its “most critical moment” in this market cycle.
“Correction is approaching its final level. The fear will be LOUD! People will likely start calling for lower and lower prices as the level is reached. They’ll tell you the market is going to zero. But don’t let someone else’s fear cause you to miss your own opportunity,” CasiTrades added.
She concluded that every major trend begins when the broader market’s sentiment is “at its worst.” The ongoing correction is “doing exactly what it should,” which makes it the “perfect market structure.”
Ali Martinez was even more bearish on XRP’s next targets. After asking his followers at which levels they plan to buy the asset, he showed a macro chart outlining a potential breakdown to $0.70, but there are also two highly unfavorable targets of $0.32 and even $0.15. Recall that XRP hasn’t traded at such low levels since the COVID-19 crash.
On the Flipside
Despite the current market sentiment, other analysts, such as Javon Marks, remain bullish on XRP’s future performance. As recently reported, the market observer with over 60,000 followers on X argued that the asset could aim for double-digit price levels during the next bull run, and outlined $17 as the potential top.
Ted Pillows was also quite optimistic, indicating that XRP has formed a similar pattern to its 2024 rally when it rocketed from $0.50 to $3.30 in months. If history repeats, he believes the asset could top at almost $8.50.
Source: CryptoPotato
