Analyst Warns XRP Price May Fall Below $1 Due to Bearish Signals

Crypto analyst Bobby A highlights potential challenges for XRP's price. Key points include:

  • The monthly chart shows weak signs, suggesting a bearish trend might be forming.
  • XRP is trading below the 1.618 Fibonacci level, indicating a rejection rather than a breakout.
  • The current price action coincides with the monthly candle closing near the BMSB line, a concerning signal.
  • The Bressert indicator crossing bearishly on the monthly chart has historically been unfavorable for XRP.
  • Bobby A believes the mid-term trend may weaken further, and traders should focus on risk control.
  • The possibility of XRP dropping below $1 to find support remains as sellers exert pressure.

Despite his concerns, Bobby A continues to support XRP's long-term prospects but acknowledges that current market conditions do not favor a significant bullish move.