Crypto Analyst Predicts XRP Price Crash to $1.6 Support Level

Analyst Crypto Paradise predicts a potential decline in XRP to a support level of $1.6 due to the formation of a rising wedge pattern, indicating bearish signals. He warns that the recent upward trend may be a retracement within a larger bearish context. Key points include:

XRP price could crash to $1.6.
A bearish trap may unfold before a possible bullish reversal.
The upward trend is likely just a correction.
If XRP bounces from resistance between $2.4 and $2.5, it may present shorting opportunities.
A breakout above this resistance zone would invalidate the bearish thesis.
Market participants are advised to remain patient and disciplined.

In contrast, analyst Ali Martinez presents a bullish scenario for XRP, suggesting a breakout from an inverse head and shoulders pattern with potential targets of $2.70 to $2.90. Analyst Joe also supports a bullish outlook, citing confirmed breakouts and building momentum. As of now, XRP trades at approximately $2.28.

XRP chart