The downward trend of Ripple (XRP) intensifies, possibly facing a 30% plunge! Will the next low be $1.55?

Against the backdrop of an overall market slump, Ripple (XRP) is under pressure again. Despite ongoing expectations for XRP ETF approval, it has not escaped this wave of market decline. Bitcoin has fallen below $95,000, dragging down the entire market. The price of XRP has dropped from a weekly high of $2.36 to the current $2.20, with a 24-hour decline of 1.6%.

Technical support still exists, is a short-term rebound expected?

Despite the downturn, XRP remains above the support level of $2.15. Market analysts believe that if this support is broken, a short-term rebound to $2.25 is possible, and even further increases. Some optimistic forecasts suggest that XRP may return to historical highs, breaking through $10 to $20. However, this prediction still carries uncertainty.

Bearish voices abound, a possible 30% drop ahead

However, not all analysts are optimistic. BLOCK BULL believes that XRP may face a 30% correction, with a target price of $1.55, which is the bottom of a flag structure. If it declines further, it may provide a low-price opportunity for large capital to accumulate.