XRP Price Crash Far From Over: Warning Signal Could Trigger 10% Drop to $0.75

A prominent crypto analyst warns XRP's recent rejection from $1.60 signals continued downside pressure, with the digital asset now facing a critical juncture. A breakdown from current levels could trigger a swift 10% correction toward $0.75, erasing recent gains and exposing the cryptocurrency's deteriorating technical structure.

Rejection From The Break Keeps The Altcoin Under Pressure

XRP pushed higher at the start of last week and surged to around $1.60, but that strength did not last. The move was quickly rejected, and instead of opening the door to a stronger recovery, it turned into another failed push that saw XRP fall below $1.50 and now below $1.40 at the time of writing. Notably, that price action gave some traders an important clue when it failed to hold above the recent break.

That rejection matters because it came inside a much larger falling channel that has been in place since XRP topped above $3.65 last year. Every recovery attempt inside that channel has eventually rolled over, and the latest one appears to be following the same script. As it stands, the price is now approaching the lower trendline of the channel.

Crypto analyst Guy on the Earth identified the area between $1.34 and $1.36 as the current line of defense. That zone is important because it combines two technical features at once: the lower boundary of the small rectangle the altcoin has been trading in and support linked to the broader descending channel structure.

XRP Price Crash Far From Over

According to the analyst, a clean loss of $1.34 to $1.36 would likely shift focus to $1.20 almost immediately. However, the next leg may not be orderly, and any breakdown could come with exaggerated candles and long wicks in the coming weeks. 

The analyst also proposed a more substantial low that’s contingent on the token breaking below $1.20. The long-term channel support line converges below the $1.00 price level and continues sloping downward. Should the $1.20 support give way entirely, this could see the XRP price fall to as low as $0.75. “It would be prudent to accept this potential scenario,” he said.

However, XRP could still stage a short-term bounce from the current price, pushing back to $1.50 to retest the upper boundary of the small rectangle XRP has been trading in. At the time of writing, XRP is trading at $1.37, down by 2.2% and 7.4% in the past 24 hours and seven days, respectively.