XRP price dropped more than 10% today, slipping below the brief $3 amid a broader crypto market crash. Amid this, a flurry of market watchers predicts a potential slip to $2 for Ripple’s native crypto, especially with soaring tensions between the XRP community and Bitcoin maxis. However, despite the gloomy forecast, a flurry of experts remained bullish on the long-term trajectory of the crypto, sparking market optimism.
XRP Price Risk Slipping To $2
XRP price has caught notable traction as it slipped more than 10% today. Besides, a flurry of experts predicts a potential dip for the crypto to $2 next, which has further fueled speculations in the market.
In a recent analysis, top market expert EGRAG CRYPTO has highlighted key support zones for XRP price. According to him, XRP might retrace to $2, citing it as an “Equilibrium” level. However, despite the forecast, the expert remained bullish on the long-term trajectory of the coin.
EGRAG CRYPTO noted that following a steep correction, Ripple’s native crypto is likely to target the $2.9 mark, following which it will likely rally to $3.3. In addition, once it breaches the $3.3 mark, XRP will target the brief $5 level next. This reflects the still bullish confidence of the expert towards Ripple’s native crypto.
Experts Remain Bullish On XRP Trajectory
XRP price today fell 10.3% and exchanged hands at $2.81, while its trading volume skyrocketed 225% to $10.25 billion. However, the Relative Strength Index (RSI) for the crypto stands at 50, signaling a neutral sentiment in the market. Notably, it appears that the traders are taking a cautious approach to the digital assets ahead of the Fed’s interest rate decision later this week.
Meanwhile, despite the recent dip, top experts remained bullish on the future trajectory of the coin. For context, prominent crypto figure and influencer, Ben Armstrong, also known as The BitBoy, recently highlighted the XRP price dip.
The BitBoy said that “XRP has never sustained these prices before”, as it maintained above the $3 mark over the past few weeks. In addition, he deemed the recent dip as a buying opportunity for the investors at a lower price, highlighting the $3 level as a new support for the crypto.
Ripple Vs Bitcoin War In Focus
The recent dip in XRP price comes amid soaring tensions between Ripple and Bitcoin maxis. Notably, as Donald Trump recently hinted towards a US Crypto Reserve instead of a Bitcoin Strategic Reserve, rumors spread over a potential US XRP Reserve.
Soon after the rumors spread in the market, the Bitcoin maxis targeted Ripple, CEO Brad Garlinghouse, and the broader XRP community. Notably, pro-XRP lawyer Bill Morgan recently highlighted it as a potential reason behind the stagnant performance of both BTC and XRP. In a recent X post, Bill Morgan said:
“Bitcoin Maxis and the XRP army have been hammering each other for three days and the price of XRP and bitcoin have barely moved during that period.”
However, it’s worth noting that the recent correction also came in amid a broader crypto market crash, which wiped off gains from BTC and other top altcoins.
Major XRP Price Move Looms
Amid these bullish predictions, a notable market expert, Ali Martinez, has issued a warning that XRP’s price is on the verge of a significant move. According to Martinez’s analysis, the Bollinger Bands on XRP’s daily chart are squeezing, indicating a potential price surge or drop.
This development suggests that investors should prepare for a substantial price shift in the near future. Martinez’s prediction has sparked attention in the crypto community, with many awaiting the outcome.
Having said that, all eyes are now on the XRP price shifts, with many anticipating a potential breakout ahead. In addition, the market participants are also keeping close track of the long-running XRP lawsuit developments, which can also significantly impact Ripple’s native crypto ahead.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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