Evaluation of Ripple's Value: XRP Hits $2, But What's the Lowest it Could Reach?

XRP is in a crucial phase, facing increased bearish pressure across its USD and BTC pairs. After weeks of consolidation above key support zones, the asset has broken down, causing worry among traders and investors. This also reflects XRP’s ongoing underperformance against Bitcoin and other major altcoins. Currently, XRP's USDT pair is trading below the 100 and 200 moving averages, with the RSI near 34, indicating a lack of momentum. If sellers breach $1.95, the next demand zone is around $1.6.

On the other hand, resistance remains at the upper bound of the channel near $2.40. Against Bitcoin, XRP has shown consistent weakness since March, with both the 100 and 200 moving averages angled downward after a bearish crossover. The pair is approaching the imbalance zone (FVG) left from the rally in late 2024, which could act as a potential support zone.