Analysts predict XRP to fall to $ 1.5

XRP XRP $2.23 XRP 1.69% Market capitalization $134.38 billion VOL. 24 hours $0.21 billion is showing signs of a possible drop after forming a death cross technical pattern on the daily chart on November 27. Such a signal occurs when the 50-day simple moving average crosses the 200-day moving average from top to bottom, which traditionally indicates a decline in the value of an asset. Historically, such a configuration has been accompanied by a drop of up to 15%, which could now mean a potential decline to around $ 1.50 at the current price of $ 2.17.

Umair’s market analyst noted that XRP is currently consolidating in the range between $ 1.90 and $ 2.08. According to him, holding this zone could lead to a long period of stability, while a breakdown could trigger a sharp drop. A similar situation was already observed on November 9, when the asset was trading at around $ 2.33, after which it dropped to $ 2.21 during the week.

Amid the general rise of the crypto market, XRP is showing weaker dynamics. While Bitcoin BTC $90,642.12 Mezo Wrapped BTC -0.07% Market capitalization $42.77 million VOL. 24 hours $1.13 billion has added about $ 100 billion in market capitalization, rising to $ 1.83 trillion, and Ethereum ETH $3,056.04 Bridged Ether (StarkGate) 0.69% Market capitalization $80.05 million VOL. 24 hours $0.85 billion has grown by almost 4% and exceeded $ 3,000, XRP remains below the resistance level of $ 2.30. The Relative Strength Index (RSI) is at 46, indicating weakening momentum.

Despite the short-term weakness, some indicators point to potential upside in the long term. The volume of XRP held on exchanges has decreased, which could mean a decrease in supply on the market. This trend is traditionally perceived as a signal of growing investor interest in holding the asset.

At the same time, the overall market sentiment remains vulnerable due to macroeconomic uncertainty and expectations of the next meeting of the US Federal Reserve. XRP is currently trading near its two-week moving average, indicating a sideways movement with no signs of a sustainable trend reversal.