Analyst Predicts XRP Drop to $1.65

XRP is facing a critical moment in the cryptocurrency market after breaking through a key support level. Recently, the cryptocurrency’s price fell to $2.30, reigniting concerns about a potential deeper decline.

Analysts suggest that if selling pressure continues, XRP could drop to $1.65, a crucial support level that may define the market’s next moves.

XRP Below Support: Will the Decline Continue?

XRP’s decline reflects weakening demand, which intensified after the loss of support at $2.20. According to analyst Ali Martinez, this movement leaves the asset vulnerable to further drops, with $1.65 being the next significant support level.

This level represents a potential turning point where buyers might attempt to react and reverse the downtrend.

The negative movement in XRP aligns with broader market instability. Additionally, recent outflows from Bitcoin ETFs have contributed to a more cautious sentiment among investors.

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However, there is still hope for a recovery if buyers defend strategic levels and push the price back toward previous resistance points.

RSI and Trend Indicate Oversold Level That May Trigger a Rebound

XRP’s Relative Strength Index (RSI) has entered oversold territory, which could signal a short-term reversal opportunity. The RSI is a technical indicator that measures the strength of price movements, fluctuating between 0 and 100. When below 30, it suggests that an asset may be excessively sold and due for a potential upward correction.

If XRP manages to reclaim the $2.20 level, it could target resistance at $2.40 and later $2.60. However, if selling pressure persists, the next relevant support at $1.65 could be tested soon, reinforcing the bearish trend.

Can XRP Regain Momentum in the Market?

XRP’s movement in the coming days will be crucial in determining whether the asset can reverse its downward trend.

The market’s reaction to support and resistance levels will dictate whether a new wave of buying occurs or if the decline continues. Therefore, monitoring trading volume and the entry of large investors will be essential to understanding the cryptocurrency’s next steps.