The long-held support zone of XRP at $1.30 has been breached, and the leading altcoin is now slipping in the charts. It fell to a weekly low of $1.06, only to manage to settle in the $1.10 range. It has circled back to its 2021 price level, pouring cold water on all those who believed in its long-term prospects.
XRP has always fallen back to the $1 mark every time it crosses the $2 and $3 range. The ones who booked profit took the cake, while the ones who held on are starting at square one all over again. It has now come to a break-even point, delivering little to no gains, as the gains of the 2021, 2024, and 2025 bull runs have been erased.
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XRP: Is the Leading Cryptocurrency in Trouble?
Not just XRP, the broader cryptocurrency market is experiencing heavy sell-offs. Even Bitcoin has fallen to a yearly low of $59,353 this week, and other tokens are only moving south with it. XRP is also on the wrong side of the spectrum, as the token has broken below its 50-day and 200-day moving averages. This has mostly triggered a slew of stop losses that sent prices diving further.
A report from CoinTelegraph also states that XRP has fallen below the pennant’s lower trendline. The prediction claims that the altcoin could plunge to a low of $0.63 in the coming months. In addition, leading pseudonymous cryptocurrency analyst Egrag Crypto took to X with his bearish thesis on the altcoin. “The bearish targets are $1.27, $1.1 and a possible capitulation wick toward $0.88.”
While the $1.27 and $1.1 bearish estimates have met their target, the $0.88 is next in line. The analysts have predicted that XRP is on its way below the $1 mark. Therefore, taking an entry position at this level is deemed a risky affair. It is best to avoid the token now and wait for entry points in the $0.80 range. If it remains slippery, the best accumulation phase could be at the $0.6 level.
Also Read: XRP in Oversold Zone, Claims Cryptocurrency Analyst
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