XRP analysts explain why price drop below $1 ‘remains possible’

💡 DMK Insight

XRP’s recent dip to $1.37 raises serious concerns for traders: a bearish trend is forming. With the price hovering near $1.40, traders should be wary of a potential drop below the psychological $1 mark. This level has historically acted as a support zone, and a breach could trigger further selling pressure, possibly dragging XRP down to lower support levels. The broader market context shows a general risk-off sentiment, which could amplify volatility in altcoins like XRP. Watch for any significant volume spikes or bearish patterns on the daily charts, as these could signal a more aggressive sell-off. Additionally, keep an eye on correlated assets like Bitcoin; if BTC continues to struggle, it could further impact XRP’s price action. On the flip side, if XRP manages to hold above $1.40, it might present a short-term buying opportunity for swing traders looking to capitalize on a potential rebound. But for now, the focus should be on the downside risk and the key levels to watch.