Analyst Predicts XRP Price Drop to $1.4 Amid Market Trends
Key Points:
- Crypto analyst CasiTrades predicts XRP could crash to $1.4, despite potential bullish catalysts like a Fed rate cut.
- The current XRP price is testing Wave 4 highs, with resistance suggesting a possible downward wave before any upward impulse.
- CasiTrades indicates that breaking and holding above $2.82 on Binance is crucial to invalidate the bearish move.
- The XRP price is still fluctuating between support and resistance levels, with selling pressure not fully exhausted.
- There is a discrepancy in XRP price action across exchanges, with Binance showing a drop to $0.77 during significant liquidation events.
- Egrag Crypto maintains that as long as XRP holds above $2.20 and $1.97 monthly, the bull run is not over.
- Currently, XRP trades around $2.6, showing a decline over the last 24 hours.
Overall, the XRP market faces uncertainty, balancing between potential further declines and the possibility of future bullish movements depending on market conditions and technical breakpoints.