XRP price has been on the investors’ radar lately amid the ongoing crypto market crash. However, a top market expert has revealed key levels for Ripple’s native crypto, predicting a potential crash to below $2. So, here we explore what lies ahead for XRP and the crucial support levels that the crypto must hold.
XRP Price Faces Major Threat, Key Levels Identified
A renowned analyst recently highlighted XRP’s vulnerability, citing the 21-day Exponential Moving Average (EMA) as a crucial indicator. The expert, EGRAG CRYPTO noted that the crypto market downturn has put XRP at risk of a decline, with support levels at $2.30 and $1.90 acting as potential last defenses.
“We could see a drop as low as $2.30, with $1.90 being the last line of defense.” the expert stated on X. Despite the bearish outlook, they also suggested that this dip could present a buying opportunity, urging investors not to let fear dictate their decisions.
Source: EGRAG CRYPTO, X
TD Sequential Indicator Adds To Bearish Outlook
Another prominent crypto analyst Ali Martinez reinforced the bearish sentiment, pointing to the TD Sequential indicator. According to Martinez, this tool had signaled a sell-off a week ago, suggesting traders should have exited earlier to avoid losses.
“The TD Sequential indicator told us to sell $XRP a week ago. We should have listened!” Martinez explained while sharing an updated price chart.
Source: Ali Martinez, X
What’s Next For XRP Price?
With the crypto market facing heightened volatility, XRP’s next move depends on how it reacts to key support zones. If the token holds above $2.30, it might stage a recovery. However, a break below $1.90 could trigger a deeper sell-off.
Notably, XRP price fell 15% to $2.43 during writing, with its one-day trading volume skyrocketing 448% to $35 billion. However, the crypto’s Relative Strength Index is at 34, signaling a bullish momentum ahead for the asset. Despite that, XRP Futures Open Interest was down by 35%, reflecting the bearish market sentiment.
XRP Chart
Meanwhile, experts remained bullish on the future trajectory of the coin. Despite a massive selloff by the Ripple whales and John Deaton predicting a potential crash ahead, experts predicted a potential XRP price rally to $5 ahead.
On the other hand, several experts deem this recent XRP price crash to be due to the recent crypto market crash. However, as per experts, Ripple’s native crypto is poised for a rally ahead, potentially hitting the brief $4 mark.
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