Leading Analyst Says XRP May be Heading to $1

Prominent analyst Ali Martinez has warned that XRP is at significant risk of a massive crash to $1.

Martinez shared this perspective in a post on X today, stating, “XRP is heading to $1.” For context, XRP trades for $2.37 at press time.  A drop to $1 would result in an astonishing loss of 58% from current levels.

A major factor influencing this bearish outlook is a pattern XRP’s candlesticks have formed since December 2024. Martinez pointed out that XRP’s price pattern has been shaping a head-and-shoulders pattern on the daily timeframe.

This formation has a neckline at $2, which serves as a strong support level. Meanwhile, he noted that in the last 24 hours, XRP has formed the right shoulder of this bearish formation. According to Martinez, this is not a positive sign.

Consequently, he suggested that a sustained break below $2 would elevate the risk, with a possible 58% decline to $1. Notably, Martinez is not the only one voicing concerns about an imminent major breakdown for XRP.

Other Analysts Calling for Massive XRP Dump

Financial analyst Jesse Colombo has expressed similar concerns about XRP in a post on X today. Colombo also cited the appearance of a head-and-shoulders pattern on XRP’s daily chart and highlighted the $2 mark as the decision point for XRP’s next trajectory.

Colombo stressed that if XRP closes below the $2 level, it would validate the bearish pattern and likely trigger a rapid sell-off. Meanwhile, he did not specify how low XRP could go.

Before now, there have been numerous calls for XRP to crash back to lower levels last seen in November 2024, but the asset has continued to trend higher. Those expecting the crash are mostly critics who do not believe in the token’s ability to sustain its uptrend in the bull market.

For instance, an expert known as “IncomeSharks” warned that XRP could see a dramatic price drop to $0.60. The major factor influencing this outlook is their view that XRP’s trajectory has historically resembled a “pump and dump” pattern, where XRP rallies aggressively for a while and later dumps hard as much as it soared.

While they had long expected this occurrence, it has not happened. However, the recently formed head-and-shoulders pattern has reinforced the bearish outlook.

Bullish Sentiment Amid Bearish Calls

Despite the bearish sentiment, some analysts are still seeing bullish signs on XRP’s chart. One analyst, Captain Faibik, looked at the same XRP daily chart and argued that a bullish pennant is underway, with a likelihood for a rebound to $5.

Already, XRP’s price has dipped by over 10% today as Bitcoin undergoes a correction back to the $83K price level. With some analysts calling for a $70K Bitcoin price, XRP may find it challenging to sustain a position above the $2 mark.