XRP Tanks 21% to Retest $0.4, Challenging Analysts Bullish Forecasts of $1, $5

• XRP sees a sharp 21% decline, revisiting the $0.4 range amid market instability.
• XRP’s latest retest of the $0.4 range contradicts popular analysts’ bullish projections of $1.
• While analysts continue to project $5 and $10 targets for XRP, the asset has yet to show any signs of impressive movement.

In the last 24 hours, XRP collapsed to a low of $0.4336 from the $0.6 range in the past week. Notably, the last time XRP was seen at $0.4336 was May 2023, particularly before the asset secured a legal victory against the U.S. securities regulator.

Since commencing the downtrend following the victory frenzy, the asset continued to establish lower lows, now sinking to thresholds last seen a year ago. Emphatically, XRP’s descent from $0.5483 to $0.4336 represents an approximately 21% price crash within the last 24 hours. 

This significant price plummet followed Iran’s widely reported attack on Israel’s military base. Selling pressure surfaced as some market participants believed the event would spark nuclear warfare, prompting them to liquidate their Bitcoin holdings. Crypto investor Mike Alfred recentl…

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