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Crypto Analyst Says XRP Price Must Clear This Level Or Risk Crash To $1.9
The XRP price is at a make-or-break moment as it struggles to hold a critical technical level as it navigates broader market uncertainty. In a recent report, a crypto analyst issued a stark warning for XRP holders, highlighting that the cryptocurrency risks crashing to $1.9 if it fails to clear a key price level. XRP Price Risks Falling To $1.9 According to an analysis presented by crypto analyst Dom on X (formerly Twitter), the XRP price could be gearing up for a major crash soon. The analyst revealed that the cryptocurrency has recently tested the apex of a 100-day descending trendlinea zone that also coincided with the election Volume Weighted Average Price (VWAP) and the monthly rolling VWAP. Related Reading: XRP Price To $1.5 Or $4? The Bull And Bear Case Revealed This convergence of technical indicators has become a critical battle station between bulls and bears. While buyers attempt to halt any further declines and push the XRP price higher, the rejection at this apex signals weakness and raises the risk of a downside move. The analysts chart shows that XRPs price is struggling to stay above a mid-range support level, visually marked by a horizontal grey box between $2.05 and $2.1. Failure to clear this area could trigger a significant decline toward $1.9, which Dom has identified as the next key support area. On the flip side, a break above $2.12, where multiple VWAPs are stacked, would signal an immediate bullish reversal and potentially mark the beginning of a new upward trend. Dom has also stressed the urgency of XRP regaining the $2.12 level. If bulls fail to do so, the cryptocurrencys structure remains vulnerable and could correct downwards at any moment. As the XRP price currently sits at $2.3, the analyst has pinpointed a key upside target on his chart. If XRP were to break above its current price, the analyst expects it to move back up to $2.47 a level that would act as a longer-term dynamic resistance. XRP Must Break $2.3 To Reach $3 In a recent X post, a crypto analyst known as Lord Crypto highlighted that XRP is showing signs of a potential breakout as it emerges from oversold territory with multiple bullish catalysts approaching. After weeks of consolidation near the $2.00 support zone, XRP is now testing the resistance level at $2.30. Related Reading: XRP Price To Break Out Of Consolidation: The Next Moonshot That Will Lead To $3 Technical indicators and market trends appear to be favoring bulls. The Stochastic Relative Strength Index (RSI) shown on the price chart has reversed upward from oversold zones, indicating possible renewed buying pressure. The analyst has also pointed to the possibility of an XRP ETF approval as a bullish catalyst. Additionally, he highlighted Ripples victory over the US SEC, which brings an end to the lawsuit that has lasted over four years. Notably, a close and sustained trading above the $2.30 level could allow XRP to target higher resistance levels around $2.52 and $2.91. Once this happens, the XRP price could even reclaim past highs above $3. Featured image from Getty Images, chart from Tradingview.com
