XRP Price Drop: Is $1.20 Inevitable? Analysis
Generally, Crypto market is pretty wild, and XRP is feeling the heat right now. Obviously, it’s stuck in a corrective phase, showing weakness against both the dollar and Bitcoin, which is kinda worrying. Naturally, some analysts say the recent bounce was just a quick relief, not the start of a real recovery, and that’s a pretty valid point. Usually, with key support under pressure, a slide to $1.20 is becoming a real worry for many investors, including myself.
XRP’s Performance Against the US Dollar
Normally, looking at XRP/USDT, the coin is clearly struggling to keep any upside, which is pretty evident. Basically, after a hard rejection near the $2.40 resistance, it fell back into the $1.80-$1.90 demand zone, and that’s a significant drop. Clearly, that area used to act like a floor, but now its ability to hold is shaky, and that’s a cause for concern.
Often, both the 100-day and 200-day moving averages are sloping down, reinforcing a bearish vibe, which is not good for XRP. Eventually, the daily RSI cooled off from overbought levels, hinting the bounce might be losing steam, and that’s a sign of weakness.
Currently, the $1.80-$1.90 range is hanging on, yet it feels fragile, and that’s a worry. If that support cracks, sellers could target the October lows around $1.60, and a deeper breakdown could push XRP toward the $1.20-$1.30 zone – a level we haven’t seen in a while, and that’s a pretty scary thought. On the flip side, climbing back to $2.20-$2.40 would be the first sign of a reversal, though that looks unlikely right now, and that’s a shame.
XRP’s Struggle Against Bitcoin
Usually, when you compare XRP to Bitcoin (XRP/BTC), the picture stays cautious, and that’s a fact. Naturally, the pair is stuck near 2,100-2,200 satoshis after a sharp rejection from the 2,400-satellite resistance, and that’s a significant drop. Generally, that range lines up with the 100-day and 200-day moving averages, which have acted like a ceiling for any upward move, and that’s a problem.
Sometimes, the downtrend structure stays intact; each rally toward 2,400-2,500 satoshis meets selling pressure, and that’s a sign of a strong resistance. Obviously, buyers can’t lock higher highs, a sign the momentum is weakening, and that’s a worry.
Eventually, the next critical support sits between 1,900-2,000 satoshis, where a bit of buying interest shows up, and that’s a good thing. Still, unless XRP breaks above the 2,400-2,500 range and pierces the moving averages, its relative performance to Bitcoin will stay weak, and that’s a fact.
Generally, a break below 1,800 satoshis could confirm deeper underperformance, possibly sending the pair toward the 1,500-satellite demand zone – a serious decline that would signal bigger troubles ahead, and that’s a scary thought.
What’s Next for XRP?
Right now, XRP sits at a crossroads, and that’s a fact. Obviously, its inability to hold rallies above key resistance shows sellers still dominate, and that’s a problem. Currently, the $1.80-$1.90 support zone holds for now, but a daily close below it could spark a wave of selling, opening the door to a drop toward $1.20, and that’s a worry.
Usually, keep an eye on the moving averages and the RSI for any shift in momentum, and that’s a good advice. Naturally, a break above $2.40 in the USD pair or 2,400 satoshis in the BTC pair would be the first sign of a possible trend change, and that’s a positive sign.
Eventually, until that happens, caution is wise, because the path of least resistance still points down, and that’s a fact. Generally, if you’re holding XRP, monitor those critical levels and be ready for more volatility, and that’s a good advice. Obviously, the crypto market is unpredictable; while a $1.20 drop isn’t guaranteed, the current technical setup makes it a plausible scenario, and that’s a scary thought.
