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Analyst Predicts Possible 40% XRP Price Crash in Worst-Case Scenario
XRP Market Analysis
- XRP is experiencing volatility, with prices adjusting after last weekend's significant flash crash.
- The cryptocurrency aims to recover above $2; however, technical analysis suggests a potential 40% decline before any major rebound.
- Last weekend's market event was a massive deleveraging, causing approximately $19 billion in liquidations.
- XRP's price briefly fell below $1.6 but rebounded quickly above $2.2, potentially clearing excess leverage for future price adjustments.
- Current analysis indicates the XRP price could revisit the $1.55 level if immediate support zones at $2.2 and $2 are lost, implying a 30-40% drop.
- A deeper purge may occur before a sustainable rebound; analysts predict an eventual rally possibly reaching new all-time highs above $3.8.
- As of now, XRP trades at $2.35, marking a 4% increase over the past 24 hours.
