Will XRP Price Crash To $1.75 Or Rebound Above $2?

XRP price went down during the early trading hours in the US due to low investors interest.

The token’s value slightly declined by 3.45% and was trading at $2.14. It lost almost 58.60%% in total trading volume reaching $8.81 Billion during the same period.

Meanwhile, there were signs that the selling pressure would rise as indicated by the Relative Strength Index signal that was approaching the oversold territory.

Furthermore, large investors, known as whales, have offloaded over 370 million XRP, adding to the ongoing price decline.

According to CoinGlass data the XRP Futures Open Interest indicator declined by 2%, which strengthens the negative market outlook.

The low investor confidence makes XRP potentially struggle to defend its present support zones.

Despite the bearish market outlook, some analysts still think that the situation can be reversed.

However, if Ripple price remains above the $2 support level, this could attract more attention from the buyers and likely lead to some recovery.

If the selling pressure persists, there might be more losses.

Analyst Predict a Drop to $1.97, with Some Eyeing $1.75

The analysis from CasiTrades indicated that XRP might face additional correction which could reach as low as the $1.97 support.

Several traders observed a Head and Shoulders pattern that indicated XRP prices could move down to $1.75.

Such patterns show bearish momentum extending into the future which boosts the risk of future price declines.

Nevertheless, CasiTrades explained that higher time frames remain in the bullish territory, and the correction may already be in its final stage.

If Bitcoin reclaims the 0.382 level of Fibonacci and starts making a relief bounce, it will amplify with XRP.

However, a breakdown of above $2.0 may lead to further selling and lower the price.

Additionally, investors are watching for confirmation signals before making trading decisions.

If XRP rebounds from its support levels, it could challenge resistance at $2.4 and $2.7.

On the other hand, a drop below $1.97 might trigger a sharper sell-off toward the $1.75 mark.

Egrag Predicts XRP Could Hit $9,500 in the Future

Well-known XRP analyst Egrag made a bold prediction about the asset’s long-term potential.

He suggested that in the future, holding 20,000 XRP could be worth $190 Million.

This would mean a price increase of 437,688%, bringing XRP’s value to $9,500 per coin.

Egrag compared XRP’s growth potential to Bitcoin’s rise, citing MicroStrategy’s recent $1.99 Billion Bitcoin purchase.

He argued that early XRP investors with patience could see significant returns.

However, critics dismissed his prediction as overly optimistic, pointing out that XRP has yet to reach a new all-time high.

Analysts on Telegaon have projected that even by 2050, XRP might not surpass $300.

While some traders find Egrag’s prediction unrealistic, others believe that XRP’s price could experience massive growth in the coming years.

His analysis fuels ongoing debates about XRP’s long-term trajectory.

Furthermore, Crypto analyst Levi noted that XRP price has reached its bottom and is almost touching the neckline of the W breakout pattern.

This may turn bullish now. He alleges that if this happens, the XRP price would skyrocket.

He also made a long-term price forecast of over $30,000, which is good when compared to today’s price.

XRP price needs to hold key support levels and attract strong buying interest to reverse its recent losses.

If it moves above the $2.4 resistance, bullish momentum could build up, potentially pushing prices higher.

However, if resistance remains firm, XRP might struggle to recover in the short term.