XRP Breaks Below Key Support Level Amid Market Downturn

XRP has fallen below a significant support zone amid the broader crypto market downturn. Key points include:

XRP is now under $2.00 and has breached the Ichimoku Cloud on the daily chart.
The token's price decline aligns with a head and shoulders pattern, indicating potential bearish reversal.
Analyst Josh Olszewicz suggests XRP could drop to $1.50 if selling pressure continues.
Fibonacci levels indicate resistance around $2.60 and potential support at $1.42 and $1.16 if bearish momentum persists.
Analyst Jesse Colombo proposes a more severe scenario where XRP might fall to $0.60 if the head and shoulders pattern completes.
Contrastingly, CrediBULL Crypto believes the recent drop is a temporary deviation below $1.80, not indicative of long-term weakness.

Currently, XRP is trading at $1.76.