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.
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.
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.
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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