NewsBTC
May 1, 2025
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Analyst Predicts XRP Price Could Drop 30% to $1.55

XRP has dropped below $2.30, reversing last week's gains and currently stands at $2.20, down 1.14% today. The price peaked at $2.36 but has since fallen 7% from that high.

Market Forecasts

  • Analyst Block Bull predicts XRP may decline to $1.55, representing a potential 30% drop from recent highs.
  • This forecast follows XRP's failure to break resistance in a bull flag pattern.
  • Block Bull suggests this downturn could serve as an entry point for investors seeking to accumulate assets at lower prices.

Broader Market Context

  • The decline of XRP aligns with weaker trends in major cryptocurrencies; Bitcoin is struggling above $95,000 and Ethereum below $1,800.
  • Despite a recent 6% drop, some analysts believe XRP could bounce back if it holds support at $2.14, with forecasts suggesting a possible rise to $2.24 or even $5 in the near term.

Market Imbalance Insights

  • Recent data shows nearly $14 million in long positions were liquidated compared to just $1.48 million in short positions, indicating a majority betting on price increases during market declines.
  • This liquidation has contributed to further price drops, with open interest decreasing by 4% amid uncertainty.

Current trading figures indicate XRP remains under pressure, leaving investors weighing potential further declines against possible rebounds.