Crypto Expert Warns XRP Needs to Surpass This Threshold or Face a Drop to $1.9

The XRP price is currently at a pivotal juncture as it attempts to maintain a vital technical support level amidst broader market volatility. A recent analysis from a crypto expert has issued a serious caution to XRP holders, pointing out that the cryptocurrency could plummet to $1.9 if it fails to surpass a crucial price point.

XRP Price Faces Risk of Dropping to $1.9

In an analysis shared by a crypto analyst on social media, the XRP price may be on the brink of a significant downturn. The expert indicated that the cryptocurrency recently approached the peak of a 100-day declining trendline, which aligned with the election Volume Weighted Average Price (VWAP) as well as the monthly rolling VWAP. 

Additional Insights

This gathering of technical signals has become a crucial battleground for bulls and bears. While buyers aim to prevent further declines and elevate the XRP price, the rejection at this peak indicates a lack of strength, increasing the likelihood of a downward shift. 

According to the analyst, XRP’s price is fighting to stay above a mid-level support area, depicted by a grey box ranging from $2.05 to $2.1. Not overcoming this range may spark a notable dip toward $1.9, which the expert has marked as the next primary support level.

Conversely, if it surpasses $2.12, where several VWAPs converge, this would indicate a quick bullish reversal and might signal the start of a fresh upward movement. The analyst has emphasized the need for XRP to reclaim the $2.12 level. Without doing so, the cryptocurrency’s formation remains susceptible to decline.

Currently priced at $2.3, the analyst has identified a significant upward target on their analysis. Should XRP break past its present level, they anticipate movement back toward $2.47, which would serve as a longer-term dynamic resistance.    

XRP Needs to Surpass $2.3 to Reach $3

In a recent post on social media, a crypto analyst referred to as ‘Lord Crypto’ pointed out that XRP is beginning to show signs of potential breakout as it moves out of oversold conditions amid several optimistic indicators. After weeks of stability around the $2.00 support zone, XRP is now challenging the resistance at $2.30.

Additional Insights

Market indicators and trends appear to be leaning toward bullish outcomes. The Stochastic Relative Strength Index (RSI) displayed in the pricing chart has begun an upward trajectory from oversold territories, suggesting a potential revival in buying interest. 

Moreover, the analyst has pointed out the possible approval of an XRP ETF as a positive catalyst. Additionally, they noted Ripple’s victory against the US SEC, which concludes a lawsuit that spanned over four years.

Importantly, maintaining a close and stable trading position above the $2.30 mark could enable XRP to aim for higher resistance levels around $2.52 and $2.91. Once achieved, the XRP price might even reclaim previous peaks over $3.