XRP may drop to $1.25 without breaking key resistance levels
Market analyst Egrag Crypto forecasts a possible 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 may indicate further declines.
XRP price levels to watch
XRP must close above $2.33 to overturn the bearish outlook.
The upper boundary of the Bull Market Support Band is at $2.45.
Failure to break 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 reinforce the long-term bullish sentiment.
Current status of XRP trading
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 were profitable for XRP. Analysts expect short-term gains, predicting a price of $2.50 in five days, but foresee long-term declines to $1.97 in a month and $1.65 in three months.