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XRP Price Prediction & Analysis: Token Falls Below $2, What’s Next?
The Ripple-issued token, XRP, has seen a decline in price, falling below the psychologically important $2.00 mark. This development has sparked interest and concern among traders and investors alike, prompting questions about what may happen next.
According to crypto analyst Egrag, who shared his findings on Twitter, April may prove to be a dynamic month with significant price movements. Based on their technical analysis of the XRP/USDT pair, it seems that further decline toward $1.980 and $1.950 support zones is likely if sellers can push the price below $2.00.
On the other hand, Egrag suggests that a sudden spike towards $2.80-$3.00 could also occur during April. However, any such move would likely be short-lived and not establish a new range.
One of the most compelling points in Egrag’s analysis is the potential for a 62-70% rally measured from the lowest point of any downside wick (around $1.79-$1.90). The analyst suggests that this upside movement could unfold rapidly once certain technical thresholds are broken.
It’s worth noting that many market participants were left disappointed after Ripple’s SEC case resolution failed to prompt an immediate price surge, resulting in diminishing interest and trader fatigue. This sentiment has contributed to the token’s current consolidation phase, trading within a relatively narrow range.
The coming days will likely determine whether bulls can overcome the $2.10 resistance or bears manage to push below the critical $2.00 support level.
Source: https://coincentral.com/xrp-price-prediction-analysis-token-falls-below-2-whats-next/
