XRP Price Prediction: Why $2.6 Is A Risky Level?

A latest XRP price prediction of $6 has caught the eyes of traders, but it appears that the risk still remains.

For context, the digital assets have once again slipped into the negative territory today, losing around 1.4% from the global crypto market cap to $3.52 trillion.

As a result, Ripple coin also lost nearly 4%, indicating a cautious stance among market participants.

Although the latest surge of the crypto past the $2.5 has renewed hopes among traders, the latest movement suggests that the enthusiasm was short-lived.

However, one expert has further fueled concern, saying that XRP may face massive liquidations if it rebounds to $2.6.

On the other hand, another market pundit noted that the crypto might witness a pullback below $2 before a likely breakout.

The mixed projections, amid the Ripple market developments and XRP ETF optimism, may have also forced market participants to stay on the sidelines.

So, let’s take a quick tour of the latest XRP price prediction and see what may lie ahead for the crypto.

XRP Price Prediction: Analyst Reveals Dip to $1.9 as Selloff Continues

A latest XRP price prediction has both fueled optimism while sparking concerns of short-term woes for the crypto.

In a recent X post, analyst Ali Martinez noted that Ripple coin has the potential to hit $6 if the bulls remain in control, citing technical trends.

However, in its journey to $6, the expert said that it will first witness a crash to $1.9, suggesting a likely pullback ahead.

Martinez said that such a downward move would provide a “solid buying opportunity” to market participants.

Notably, this comes as XRP price today fell around 4% and exchanged hands at $2.46, losing the brief support at $2.5.

Its trading volume also fell 5% to $5.33 billion, with the crypto marking its 24-hour high and low at $2.58 and $2.44, respectively.

Despite the slump, it’s worth noting that the weekly chart showed a gain of 9%, with a surge of 2.5% in the monthly chart.

Besides, CoinGlass data showed that XRP Futures Open Interest rose 3% to $4.05 billion, indicating a potential recovery ahead.

Ripple Coin Faces Major Risk if it Recovers to $2.6

As derivatives data showed positive momentum, market participants are anticipating a potential recovery in XRP price.

Besides, the $6 XRP price prediction has further bolstered confidence, hinting at the experts’ confidence in the long-term trajectory of the asset.

However, amid this, an expert has painted a gloomy picture, highlighting a major risk for the asset. In a social media post, analyst STEPH IS CRYPTO has highlighted the liquidation heatmap for Ripple coin.

According to the chart, the crypto may face significant liquidation of $70 billion if it hits $2.6.

Having said that, a potential rally to $2.6 might cause selling pressure in the market, which in turn could drag down the asset’s price.

On the other hand, the latest market trends hint at a bullish momentum for the asset in the coming days.

For context, recently, Ripple CEO Brad Garlinghouse said that the blockchain firm is planning to expand into the traditional finance segment.

In addition, the optimism over potential XRP ETF approval this month has further lifted the market sentiment.

Considering these fundamental aspects and the bullish XRP price prediction, it looks primed for a strong run in the near future.