XRP may drop to $1.25 without breaking key resistance levels
Market analyst Egrag Crypto predicts a potential decline of XRP to $1.25 if certain price levels are not breached. Despite recent trading at $2.29, XRP has not confirmed a market bottom, which could indicate further declines.
Price levels to watch
$XRP must close above $2.33 to invalidate the bearish forecast.
The upper boundary of the Bull Market Support Band is at $2.45.
Failure to break through these levels could lead to a decline to the 0.702 Fibonacci level around $1.25.
This Fibonacci level corresponds to previous breakout structures and serves as strong historical support.
A drop to $1.25 would be seen as a significant test and could strengthen the long-term bullish sentiment.
Current trading status of XRP
Currently, XRP is trading at $2.18, down 0.78% over the last day and down 5.08% over the last month.
Market sentiment is neutral: only 40% of the last 30 days have been profitable for XRP. Analysts expect short-term gains, forecasting a price of $2.50 in five days, but predict long-term declines to $1.97 in a month and $1.65 in three months.
