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Is XRP price going to crash again?
XRP has plunged 22.25% over the past month, dropping from its $2.90 peak in January 2018 to $2.26 on Jan. 10. Profit-taking after overbought conditions, strong U.S. economic data, and a hawkish Federal Reserve have contributed to the decline.
Symmetrical triangle hints at 40% drop
XRP’s daily chart reveals a symmetrical triangle pattern, signaling potential for a sharp breakout. Currently trading near the upper trendline, XRP risks a decline to $2.05 (50-day EMA). A decisive break below the lower trendline could push prices to $1.36 by February, marking a 40% drop.
Alternatively, breaking the upper trendline could propel XRP to $3.46. However, bearish sentiment dominates as wealthy investors reduce holdings. XRP supply held by addresses with 1 million+ tokens has dropped to 90.50 billion, a record low compared to 100 billion last year.
Will XRP drop to $1.50?
On the weekly chart, XRP consolidates within the $1.98–$3.03 range, aligning with key Fibonacci levels. After bouncing from $1.98 support, its upside momentum has weakened, with a 4% decline this week. RSI remains overbought, suggesting further correction risks.
If bears prevail, XRP may retest $1.98 and, if breached, fall to $1.50 (20-week EMA), a past correction target near the 0.786 Fibonacci level ($1.62). Conversely, holding above $1.98 could trigger a rally toward $3, backed by bullish trader forecasts.
Valeriya notes, “The $2.15–$2.20 zone is critical. Holding this support may lead to aggressive growth toward $2.91. If it breaks, the market could dip below $2.00.”