Is XRP Destined to Fall to $2? Analyst Issues Worrying Prediction
The uncertainty in the cryptocurrency markets continues a week after the calamity from last Friday, and the overall recovery attempts have come to a halt.
Ripple’s XRP has been on an evident downfall ever since it broke its all-time high in July this year, and has lost two positions in terms of market capitalization to USDT and BNB. The question now arises whether it will plunge further to $2, which was posted by popular crypto analyst Ali Martinez.
If we exclude the black swan market-wide crash from last Friday, in which XRP dumped below $1.5 on most exchanges and even under $1 on a few, the asset has stood above $2 for almost four straight months. The last time it dipped below that line was in June and in April before that.
Now, though, the overall market sentiment and conditions appear rather unfavorable for multiple altcoins, including XRP.
Martinez also brought up XRP’s UTXO Realized Price Distribution (URPD), which outlined the next key support for the asset if another leg down takes place. He noted that this critical level is situated at $2.10, which is just inches above the potential target of $2.
In case of a rather surprising reversal, he highlighted the first major support, which is situated at $2.80. If taken down, XRP could resume its rally and aim at $3 next.
The post Is XRP Destined to Fall to $2? Analyst Issues Worrying Prediction appeared first on CryptoPotato.
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