Key Insights:
- XRP price slipped over 3% today and exchanged hands at $2.09.
- The US Spot XRP ETF has continued to witness positive fund flows.
- Analyst warns of a Ripple coin price dip to $1 or even lower.
XRP price has recorded a significant decline today, losing more than 3.5%, which has raised concerns among market participants. Amid the topsy-turvy scenario, a renowned expert has warned of a potential drop to $1 or even lower.
This latest Ripple coin price prediction has further dampened the market sentiment. In other words, the gloomy forecasts might also have triggered the recent selling pressure in the market, causing the dip in the asset’s value.
Meanwhile, the institutional interest remains robust in the crypto, as evidenced by the recent fund flow into the US Spot XRP ETF. The investment instrument has continued to witness funds entering, suggesting that the institutions are optimistic about the potential future movement of the coin.
In addition, the recent gloomy forecast over a significant dip in XRP price comes despite the bullish sentiment hovering in the market. For context, the expert, who has hinted towards the dip in “worst-case scenario,” said that the dip would provide a buy-the-dip opportunity to market participants.
XRP Price Slips Despite Sustained Institutional Interest
XRP price was down more than 3% and exchanged hands at $2.09 at the time of writing. The recent dip in Ripple coin price has fueled concerns, especially as the broader market has recorded a robust rally today.
It’s worth noting that the crypto has slipped from its daily high of $2.16, while touching a 24-hour low of $2.07. Notably, the trading volume of the crypto also fell more than 25% to $3.2 billion at the time of writing.
With this recent dip, XRP price weekly chart showed a plunge of nearly 3.5%, suggesting a waning risk-bet appetite of traders. However, the weekly chart showed a surge of over 8%, as the crypto has recovered from a monthly low of $1.77.
It’s worth noting that Ripple coin has rallied to as high as $2.44 in recent weeks, which has triggered optimism among market participants. In addition, the recent US Spot XRP ETF fund flow data also suggests sustained interest of the institutions towards the crypto.
For context, the US Spot XRP ETF has recorded an inflow of $10.63 million on Wednesday, January 14. With this, the cumulative total net inflow has hit $1.26 billion since launch, SoSoValue data showed.
What’s Next for Ripple Coin?
Amid the recent dip in XRP price, a renowned expert has hinted at a brutal crash ahead. However, despite the warning, the expert remains optimistic about the potential future movement of the coin.
For context, in a recent analysis shared on X, analyst EGRAG CRYPTO assessed the worst-case scenario, donning the “Bears hat” to objectively evaluate the situation.
According to EGRAG CRYPTO, if XRP price follows historical patterns, it could experience a 31% to 47% drawdown. As per his worst-case zone, the target would be around $1.40-$1.20, or even $0.9.
However, the expert remains bullish on the long-term prospects of Ripple coin, citing strong fundamentals and structure. Besides, he is confident that the current bull cycle isn’t over, and the macro trajectory points towards an XRP price rally to double digits.
Considering that, it seems that Ripple coin might face a pullback in the near future. However, for the long term, the experts are optimistic over a strong run for the asset, potentially to $10 and beyond.