Crypto Analyst Who Predicted XRP’s Drop Below $2 Reveals Next Big Move
Expert Charts Out Key Levels as XRP Faces Possible Crash to $1.5
A fresh XRP price forecast is making waves, and it comes from a crypto analyst with a track record of accuracy. The expert, known as ‘MMBTrader’ on TradingView, previously called XRP’s plunge below $2 - and now he’s back with another bearish prediction. His latest analysis pinpoints crucial support and resistance levels that could shape the token’s next major move.
XRP Price Headed for a Steep Drop?
At the time of writing, XRP is trading at $2.2, reflecting a modest 3% gain in the past 24 hours, according to CoinMarketCap. However, despite this short-term uptick, XRP’s overall trend remains shaky, with signs pointing to an impending drop.
MMBTrader’s latest chart analysis highlights a Head and Shoulders pattern forming on XRP’s daily chart - a classic indicator of a potential price breakdown. This pattern, characterized by three peaks (a left shoulder, a higher head, and a right shoulder), typically signals a shift from a bullish to a bearish trend.
The key level to watch? The pattern’s neckline at around $1.95. If XRP breaks below this critical support, it could trigger a sharp 50% decline, pushing prices down to the $1.5 range or possibly even $1.2.
A Possible Rebound - or a Rally to $5?
While the bearish outlook dominates, MMBTrader also presents a more optimistic alternative. If XRP manages to consolidate around $2 without breaking lower, a strong recovery could be in the cards. In this case, the price could bounce back to new highs, defying the downward pressure.
Interestingly, the analyst even outlines the potential for a massive rally to $5 - but only if XRP finds solid support around $1.5 and triggers a strong reversal. If buyers step in at this level, the token could climb back into bullish territory, with price targets between $4 and $4.5.
Whales Scoop Up XRP Amid Market Slump
Despite XRP’s slow momentum and the broader market downturn, large investors - known as whales - are taking advantage of the dip. Crypto analyst Brett reports that a single whale recently purchased over 167 million XRP, worth approximately $368.4 million, in one massive transaction.
This aggressive accumulation comes at a time when the market is grappling with volatility and liquidation pressures. Over the past week, XRP has seen its price slide by 11.6%, mirroring broader losses across the crypto sector. Bitcoin and Ethereum also experienced major sell-offs earlier in February, fueling concerns of a prolonged downtrend.
As XRP hovers near critical support levels, all eyes are on whether the token will break downward as predicted - or stage a surprise rally. Either way, the coming weeks could be pivotal for XRP’s next big move.
