XRP Price May Decline to $1.5 If Resistance Level Fails
Analyst MadWhale predicts a potential decline in XRP price to $1.5, emphasizing the need for the cryptocurrency to maintain a critical resistance level around $2 to avoid further losses. Key points from the analysis include:
- XRP currently shows a downtrend with lower highs and lows.
- A breach of the $1.90 support could lead to a drop of 35% towards $1.5.
- The $2 mark is identified as a significant psychological resistance where selling pressure may increase.
- If the $1.90 level fails, further declines are expected, aligning with the bottom of the descending channel.
- Recent movements indicate that XRP tested the upper boundary of this channel but faced rejection.
Conversely, XRP's price surged by 24.5% following Donald Trump's announcement of a crypto reserve plan, which includes XRP. This recovery brought the price above $2.5 after a previous crash.
