Top experts reveal XRP price to hit $3 if it reclaims a key support level ahead.
XRP price has continued to stay in the red, struggling to stay in the positive territory over the past few days.
Notably, the recent dip of Ripple coin below the $2 mark has further fueled discussions over how low the crypto might go in the coming days.
It’s worth noting that the continuing dip comes despite the hype over the XRP ETF launch in the US.
In addition, the altcoin ETF market has recently heated up, with Dogecoin, Solana, and others also in the spotlight amid their ETF launches.
Despite that, the positive developments have failed to lift the market sentiment. In addition, a brutal crypto market crash yesterday, with Bitcoin and top altcoins recording double-digit percentage losses, has spooked traders.
Over the last couple of days, the market has suffered quite a few setbacks, in that, Bitcoin price slipped near $80,000, and Ethereum price went lower to $2,600, among other developments.
Now, let’s take a quick tour of the major support and resistance levels for XRP price, which might provide further cues on the potential future movement of the coin.
XRP price today displayed over 6% recovery in 24 hours, and traded at $2.03 at the time of writing, rising from a 24-hour low of $1.8.
Notably, the trading volume of the asset has continued to fall significantly by over 50% to $3.6 billion, indicating declining activity in the market.
The Ripple coin price has slipped to as low as $1.89 in the last 24 hours, which has sparked discussions about the potential future movement of the coin.
Having said that, the market chatter about the timeline of XRP’s price recovery continues, even as it showed a loss of over 9%, while the monthly chart decline totaled 16.87%.
However, the derivatives data suggest a different picture. For context, CoinGlass data showed that XRP Futures Open Interest rose more than 1% to $3.28 billion despite the recent retreat in the price.
Meanwhile, a major technical indicator also hints at a potential recovery in the asset’s price ahead.
For context, the Relative Strength Index (RSI) of the asset was at 31, suggesting that the crypto is nearing an oversold condition.
Such a scenario often allows market participants to enter at a lower price, which in turn helps in a recovery for the asset.
Now, here we explore some of the key levels for the asset that the market analysts believe would shape the future trajectory of the asset.
Amid the ongoing slump in XRP price, analyst Ali Martinez has shared key levels to watch for Ripple coin.
In a recent X post, Martinez said that $1.75 marks a key support for XRP, as investors have acquired 1.8 billion Ripple coins at that level.
Having said that, it marks a key support level for the asset, he noted. However, evaluating the TD Sequential signal, the analyst said that it now shows a “buy signal” for the asset.
According to the expert, this sign has previously resulted in a 14% and 18% rebound for the asset. On the other hand, analyst CRYPTOWZRD said that XRP price must hold the $1.95 support to witness a recovery ahead.
The expert has shared a chart, which shows that the next targets lie at $2, $2.27, and $2.75.
Meanwhile, if it clears the resistance at $2.75, the expert anticipates a potential rally to $3.15 for the asset.
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