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XRP Price Can Fall Further To $1.5 If This Level Fails To Hold
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XRP Price Can Fall Further To $1.5 If This Level Fails To Hold

Scott Matherson
Scott Matherson
3 months ago
4 mins read
XRP

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Despite recovering from bearish lows following its recent uptick, a crypto analyst has predicted that the XRP price could undergo a further decline in its price to $1.5. The analyst has pinpointed a critical resistance level that XRP will need to hold lest it crashes to new lows and eradicates recent gains.

Analyst Predicts XRP Price Crash To $1.5

TradingView crypto analyst MadWhale has shared a new price analysis focusing on XRP’s future price potential. The analyst emphasized his strong track record of cryptocurrency trends, underscoring that he has accurately identified and hit all the gain targets. 

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XRP

XRP Price Can Fall Further To $1.5 If This Level Fails To Hold

3 months ago

MadWhale predicts that the XRP price could crash below $1.9 to $1.5. The analyst revealed that XRP is currently in a downtrend and has been making lower highs and lower lows, indicating a bearish structure. According to his price chart, the cryptocurrency is also trading within a descending channel and fast approaching a key resistance level. 

This critical resistance point at the $2 mark has been tagged as a psychological level where sellers are likely to emerge and trigger further downward pressure on the cryptocurrency. If a rejection occurs at this $2.00 resistance level, MadWhale highlights that the next support area and downside target will be around $1.90, representing a 17.62% value drop.

XRP
Source: MadWhale on Tradingview

If the resistance level fails completely and the $1.90 support level breaks, the TradingView crypto analyst has forecasted another major breakdown in the XRP price. He predicts that the cryptocurrency could experience a more profound decline of 35%, possibly dropping down to the next major support level at $1.5. This crash target aligns with the lower boundary of the descending channel in which XRP currently resides.

MadWhale has revealed that the decline to $1.5 could serve as a pivotal point for price stabilization, hinting at a possible reversal in the cryptocurrency once bearish pressures wane. The analyst’s price chart also shows that XRP recently tested the upper boundary of the descending channel but faced a rejection near the resistance.

The main daily resistance area for the XRP price is marked in red on the chart, suggesting that $2.6 is where selling pressure might occur. As of this writing, XRP is trading at $2.8, already significantly above MadWhale’s daily resistance area. 

Trump’s Crypto Reserve Plan Triggers Major XRP Price Surge

After experiencing a significant price crash over the past few weeks, the XRP price seems to be recovering at an alarming pace. In just one day, the cryptocurrency saw a double-digit price surge, successfully reversing its previous downtrend.

Related Reading

XRP

Pundit Who Correctly Predicted XRP Price Crash To $2.5 Says Demand Zone Will Send It Soaring

3 months ago

Analysts have attributed this unexpected sharp surge to the recent United States (US) crypto reserve plan announced by Donald Trump. The US President had included XRP in his plans for a crypto reserve aimed at boosting the country’s debt strategy and crypto dominance. As news of this strategic plan spread, the XRP price saw a 24.5% increase, pushing its value significantly above the $2.5 threshold once again.

XRP
XRP trading at $2.6 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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