XRP Price May Crash To $1.5 If It Loses This Support

The recent selloff in the broader crypto market has spooked the market participants, with Bitcoin and top altcoins taking the biggest hits.

One of the leading players in the segment, XRP price also bore the brunt, wiping off more than 3% from yesterday.

Amid the ongoing volatile scenario, the experts have shared mixed insights on the future trajectory of the Ripple price.

While some predict a potential correction to as low as $1.5, others have maintained their bullish outlook for the asset.

How’s XRP Price Moving As Crypto Market Follows Wall Street Retreat?

XRP price fell more than 3% and rested at $2.24 today, and its 24-hour high and low were recorded at $2.33 and $2.22, respectively. Its one-day volume also recorded a plunge of 8% to $2.63 billion.

Notably, the retreat comes amid a broader crypto market selloff, which resulted in a drop of over 2.3% in the global crypto market cap. It comes as the Wall Street indices fell on Wednesday, amid soaring macroeconomic concerns.

Besides, it appears that the US-China trade hype is also fading among investors, with market watchers awaiting major catalysts to boost sentiment.

However, some market experts have cited the current dip as a healthy correction, predicting a potential rebound ahead.

Despite that, a start warning from a renowned analyst has sparked concerns among traders. According to the expert, XRP price risks dropping to $1.5, if the ongoing gloomy momentum continues.

Can the Ripple Price Slip to $1.5?

With Ripple price witnessing a pullback today, analyst CasiTrades has predicted a potential crash ahead for the asset. In a recent X post, the analyst said “XRP Funding Rising, While Prices Stall.” She stated:

“We’re just days away from the apex of #XRP’s macro consolidation and price is hovering above support, while funding quietly climbs. That’s a dangerous combo.”

Having said that, the expert highlighted the $2.25 as a major support level for the XRP price. According to her, if XRP fails to hold the level, it could witness a drop to $2.01 in the coming days.

Besides, she also predicted that if the bears continue to dominate, the XRP could continue its run toward the South. CasiTrades predicted a Ripple coin dip to $1.90 or even as low as $1.55.

However, in a separate post, the analyst has also provided a bullish outlook on the crypto’s future performance.

For context, she said that the XRP price might hit $8 by the end of July if it avoids hitting a “new low” in between.

Meanwhile, when a user inquired about how high the XRP price could go by the July end, she said that between $8 and $13, citing technical trends.

This has caught the eyes of the traders, especially amid similar recent bullish projections from the market pundits.

In a recent analysis, analyst EGRAG CRYPTO said that the Ripple price may hit the $7.5 level soon, citing historical trends.

So, while the crypto might continue to face short-term pullbacks, it seems that XRP could witness a swift rebound ahead.

The post XRP Price May Crash To $1.5 If It Loses This Support appeared first on The Coin Republic.