XRP Price Flashes Buy Signal, But Analyst Warns a Crash to $1.9

XRP price is once again on the investors’ radar, but this time due to its continued move in the negative territory.

The crypto has slipped below the $3 mark, which has fueled concerns over a further dip in the Ripple coin ahead.

Despite that, an analyst has shared a technical chart, which highlights a “buy” signal for the asset. However, derivatives data have painted a gloomy picture, suggesting a continued pressure on the asset in the coming days.

On the other hand, the recent Ripple whale activity also indicates that the large investors are actively offloading their holdings.

This reflects the waning risk-bet appetite of the traders, especially amid the highly volatile trading scenario recorded in the broader crypto market.

For context, Bitcoin price has lost nearly 6% over the past week. Simultaneously, the top altcoin, ETH price has lost nearly 10% over the last seven days, falling from a recent high of $4,788 to $4,200.

Analyst Hints at XRP Price Recovery Despite Recent Dip

XRP price has lost more than 4% today and slipped to $2.89 during writing, but its trading volume climbed more than 20% to $7.4 billion.

Notably, the crypto has hovered between $3.03 and $2.85 in the last 24 hours, reflecting the highly volatile trading scenario in the market.

The crypto has lost about 12% over the week, while its monthly loss was recorded at 19%. Besides, the derivatives data also indicates that the crypto might continue to stay in the red in the coming days.

CoinGlass data showed that XRP Futures Open Interest (OI) fell 3% to $7.6 billion. On Binance, the Futures OI for Ripple Coin fell more than 5% to $914 million.

However, despite the retreat, analyst Ali Martinez has sparked optimism among traders. He has shared a technical indicator, suggesting that the crypto is gearing up for a recovery.

For context, in a recent X post, analyst Ali Martinez noted that “XRP looks ready to bounce.”

Meanwhile, he claimed that he had perfectly timed the Ripple coin’s recent top. Now, his signal indicates a buy, suggesting that XRP price is poised for a potential price recovery.

Analyst Warns of Ripple Coin Crash to $1.9

The recent plunge has spooked the retail investors, which is further evidenced by the massive selloff by the large investors or whales.

Ali Martinez has recently said that Ripple whales have dumped 470 million coins, valued at around $1.3 billion at the current price, over the last ten days.

Amid this, the recent buy signal, as highlighted by Martinez, has sparked optimism. However, expert EGRAG CRYPTO has fueled concerns, saying that the XRP price might crash to as low as $1.9.

Meanwhile, the analyst has revealed several price targets for the crypto. He noted that XRP price needs to close above $3.65 to maintain its upward trajectory ahead.

However, if it fails to hold the support, it should maintain $2.90 for a recovery. In addition, he noted that $2.65 acts as a key defense and a dip below that would drag down the price to $2.33.

Finally, if it loses the $2.33 support, it will go down to $1.9, while a continuing bearish momentum could take XRP price further lower to $1.62.

Having said that, the crypto must maintain its $2.9 support for a recovery ahead. Failing to hold the key levels might trigger a crash to $1.9 or even $1.6.