Cryptocurrency XRP may collapse by 50%

The cryptocurrency XRP XRP $1.37 XRP -0.56% Market capitalization $85 billion VOL. 24 hours $0.12 billion has been in the spotlight of analysts who warn of a possible 50% decline in the value of the coin. In particular, the well-known trader Peter Brandt noted that a classic head-and-shoulders pattern is forming on the XRP chart, which could signal a potential price drop to $ 1.07 if the support level of $ 1.90 is broken

As of today, March 28, XRP is trading at $ 2.24, down 5% from the previous close. The maximum price for the day was $ 2.38, and the minimum was $ 2.23. Such dynamics is causing concern among investors about the further movement of the token’s value

Another analyst, Ali Martinez, also expressed concern, noting that a breakout below $ 2 could lead to a sharp decline in the XRP price. He emphasizes that there is a so-called «air pocket» between the levels of $ 2 and $ 1.60, which could contribute to a rapid drop in value in the event of a loss of support.

At the same time, some experts remain optimistic. Trader Javon Marks draws attention to the breakout of a downward wedge by the XRP price and the Relative Strength Index (RSI), which usually indicates a trend change. He recalls that the previous similar breakout led to a 570% price increase and suggests that XRP could be preparing for a new powerful rally

Overall, the situation remains uncertain. Investors are advised to keep a close eye on key support and resistance levels, in particular $ 1.90 and $ 3.00, which may determine the future direction of XRP’s price.