Ripple (XRP) 30% Fall Prediction in the Spotlight!
Jakarta, Pintu News – This week, Ripple experienced a sharp drop below $2.30, erasing all the gains made in last week’s brief rally. After rising 8% from $2.06 to $2.28, Ripple (XRP) has now lost 3.5% from Monday’s opening price and 7% from its weekly peak of $2.36. Market analysts predict the potential for even deeper declines that could reach 30%.
Technical Analysis Shows Downside Potential
A well-known crypto analyst, Block Bull, has predicted that Ripple (XRP) may experience a deeper decline in the near future. According to Block Bull’s post on X on April 29, Ripple (XRP) failed to break the resistance level at the bull flag pattern on the daily chart.
This technical failure could push the price down to $1.55, which would be very disruptive, according to Block Bull. This would be a drop of about 30% from the peak of the pattern and 28.6% from current levels. Block Bull also noted that this price drop may be short-lived and could be a perfect entry point for investors.
Also Read: Ripple (XRP) Moves $1.1 Billion, What Happened?
General Crypto Market Also Under Pressure
The downward pressure on Ripple (XRP) is in line with the weak trend in other major cryptocurrencies. Bitcoin is struggling to stay above the $95,000 threshold, while Ethereum has dropped below $1,800. This suggests that the correction is a problem affecting the entire market, not just Ripple (XRP).
Meanwhile, the latest liquidation data from Coinglass shows a stark market imbalance. In 24 hours, nearly $14 million of long positions (bets that the price will rise) were liquidated, while only $1.48 million of short positions were sold. This gap of almost 1000% shows that the majority of traders were betting on rising prices when the market started to decline.
Optimistic Views from Other Analysts
Not all market watchers have such a gloomy outlook. Some analysts noted that although Ripple (XRP) fell 6% in two days from $2.28 to $2.14, the currency managed to stay above important support levels on shorter time frames.
They state that if Ripple (XRP) can maintain support at $2.14, the price might bounce back to $2.24 or higher in the near future. More positive predictions even suggest that Ripple (XRP) could reach $5 within a month, which would be a new record high for the cryptocurrency.
Conclusion
Given this conflicting information, investors now face mixed messages regarding whether to anticipate further declines or a possible rebound in the coming days. Currently, Ripple (XRP) is at $2.20, down 1.14% since the start of the day.
Also Read: Worldcoin: Innovating Digital Identity Verification Through Iris Scanning
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Annoying as Hell Analyst Predicts XRP Will Crash 30%. Accessed on May 2, 2025
- Featured Image: Crypto Rank
