Provides a modern perspective on XRP prices from a cryptocurrency analyst its recent collapse below $2 and factors that may influence his next moves. According to the analysis, Bitcoin Crash In Progress and key support levels could trigger a stronger correction in XRP. However, this projected downward trend is expected to pave the way for a reversal towards higher target levels.
XRP Price Outlook Tied to Bitcoin Lift
While the broader cryptocurrency market continues to trend down, cryptocurrency expert Tara common fresh technical analysis on XRP. On Tuesday, X claimed in a post that the current price structure of XRP shows that there is a deeper pullback compared to Bitcoin, which is still goes through a repair phase. This mismatch is likely to cause erratic XRP price behavior in the near future, she said.
Tara noted that XRP recently touched the 0.382 Fibonacci retracement level near $1.95 after dipping below $2 last week. On the other hand, Bitcoin’s price is only halfway to a similar Fibonacci level. She notices it Bitcoin Gradual Retreat may slightly disrupt XRP price movements. However, if BTC pushes for the 0.382 retracement near $88,800, the analyst believes this could ultimately serve as a major catalyst renewed strength in XRP.
In its research report, Tara highlighted key decline levels that XRP investors should watch closely. She revealed that a break below $1.916 could open the door to a short-term move towards $1.90, where lower time frame (LTF) support lies. She further added that another test near $1.88 is possible as long as XRP continues to trade below $2.0.
It is worth noting that Tara has designated $2 as a key resistance zone that can break any recovery attempt with XRP. He notes that a return to this level would likely depend on Bitcoin pushing higher during the retracement.
The attached chart clearly shows that XRP is trading in a downtrend on a 4-hour time horizon and the price remains below the short-term moving averages (MAs). Fibonacci levels also highlight $1.95 as a complete retracement area, while deeper support zones cluster between $1.90 and $1.88. RSI indicator at the bottom of the graph it oscillates in the lower range, which suggests weakening momentum but also the potential for some relief if support holds.
XRP short-term rally remains below $2.30
While answering questions under her post on X, Tara provided information on this topic XRP Price Outlookfocusing on both short- and long-term expectations. She excellent that the $2 level only represents the LTF resistance for XRP, while the actual barrier lies much higher at $9. Currently trading around $1.91, a move to $9 would represent a price boost of over 374%.
Given XRP downtrend and broader market uncertainty, Tara indicated that a rally to $9 is unlikely in the near term. She too released claims that the cryptocurrency may fall to $1 in December. Instead, she shared her bullish expectations, suggestion that XRP cannot reach higher than $2.30 before the end of the year.
Featured image from Getty Images, chart from Tradingview.com
