XRP – Analyst Forecasts $1 Target

Crypto investors following XRP are on high alert as prominent analyst Ali Martinez is sounding the alarm, suggesting a significant crash down to the $1 mark could be on the horizon. Martinez shared his analysis in a post on X today, stating plainly, “XRP is heading to $1.” To put this into perspective, XRP is currently trading around $2.37. Should Martinez’s prediction materialize, a drop to $1 would represent a staggering 58% loss from its present value.

A key factor driving this bearish outlook is a chart pattern that has been forming in XRP’s price action since December 2024. Martinez pointed out that XRP’s price pattern has been developing a head-and-shoulders formation on the daily chart.

This technical formation has a crucial neckline at $2, which is acting as a strong support level. Adding to the concern, Martinez noted that XRP has formed the right shoulder of this bearish pattern just within the last day. According to Martinez, this recent development is certainly not a positive indicator.

Consequently, he cautioned that if XRP breaks decisively below the $2 mark, it would significantly increase the risk of a substantial downturn, potentially leading to the predicted 58% plunge to $1. Importantly, Martinez isn’t alone in his apprehension about a possible major breakdown for XRP.

Other Analysts Calling for Massive XRP Dump

Adding to the chorus of caution, financial analyst Jesse Colombo has also voiced similar concerns regarding XRP in a post on X today. Colombo echoed the head-and-shoulders pattern observation on XRP’s daily chart, similarly highlighting the critical $2 level as the decisive factor for XRP’s next move.

Colombo emphasized that should XRP close below the $2 threshold, it would validate the bearish head-and-shoulders pattern and likely trigger a rapid sell-off. However, he stopped short of specifying just how low XRP might descend.

It’s worth noting that there have been repeated predictions of XRP crashing back to price levels seen last November 2024. Despite these calls, the asset has consistently defied expectations and continued its upward trend. Those anticipating a crash are often critics who express skepticism about the token’s capacity to maintain its bullish momentum throughout the current market uptrend.

For instance, crypto expert “IncomeSharks” previously warned of a dramatic XRP price drop to $0.60. This pessimistic outlook is largely based on their perception that XRP’s price history tends to follow a “pump and dump” cycle, characterized by aggressive upward surges followed by equally sharp declines back to lower levels.

While “IncomeSharks” and others have long anticipated this scenario, it has yet to play out. Nevertheless, the recent emergence of the head-and-shoulders pattern has seemingly reinforced this bearish perspective for some analysts.

Bullish Sentiment Amid Bearish Calls

Despite the growing bearish sentiment, not all analysts are convinced that XRP’s trajectory is downward. Some still see encouraging signs on XRP’s charts. Analyst Captain Faibik, for example, examined the very same XRP daily chart and presented a contrasting viewpoint. He argued that a bullish pennant formation is currently underway, suggesting a potential rebound upwards towards $5.

Adding to market pressures, XRP’s price has already decreased by over 10% today, mirroring Bitcoin’s current correction back to around the $83,000 price range. With some analysts forecasting a potential Bitcoin price of $70,000, XRP may face increased difficulty sustaining its position above the crucial $2 mark in the near term.