XRP News: Potential 50% Price Decline Risked, But South Korean Traders Offer Support

Recent analysis of XRP’s price movements has revealed a concerning trend for holders of the cryptocurrency. Despite some positive signs from South Korean traders, a significant price drop could be on the horizon.

XRP Price Risks 50% Dip; South Korean Hodlers Offer Support

XRP price is at risk of a 50% decline, according to technical analysts on TradingView. The cryptocurrency’s 3-day chart shows a head-and-shoulders pattern, which often precedes a downward move. The pattern suggests a potential fall to $1.15. However, South Korean traders are providing some support, with Ripple gaining over 1.5% against the local currency in the last 24 hours.

XRP Crypto: Ripple’s XRP May Boost Amid The US-Canada Trade War

Escalating trade tensions between the United States and Canada are casting a shadow over global markets. However, some experts believe it could present unique opportunities for blockchain technologies, particularly Ripple’s XRP Ledger (XRPL). The current geopolitical climate might be bullish for Ripple, especially with Mark Carney’s recent appointment as Canada’s Finance Minister (note: the instruction incorrectly states him as Prime Minister). Carney, former Governor of both the Bank of Canada and the Bank of England, has been a vocal advocate for digital currencies and financial innovation.

Analyst Sounds Alarm on XRP – Is a Collapse Below $2 Imminent?

XRP has relied on whale support twice post-election, making it a crucial metric to watch. Ripple [XRP] plunged to $2.10 amid the recent market downturn, recording an 8.06% single-day drop. Following the election, XRP twice closed below $2, within the $1.95–$1.98 range, which triggered significant rallies of 71% and 53%, respectively. These rebounds were driven by whale wallets injecting billions into the XRP Ledger. As Ripple revisits this critical support zone, a market strategist warns that a breach of XRP’s $2 support could be imminent.

XRP Set For A ‘Life-Changing’ Month? Expert Sees $27 Incoming

Market researcher Egrag Crypto predicts that XRP might reach $27 in the coming months based on a significant breakout from a seven-year symmetrical triangle. This pattern led to a 283% surge in November 2024, indicating a potential explosive move for the token. The prediction has sparked discussions among investors with varying degrees of optimism.