Here’s What To Expect With The XRP Price Trading Under $2
A new XRP price outlook from a crypto analyst outlines its recent breakdown below $2 and the factors that could influence its next moves. According to the analysis, Bitcoin’s ongoing retracement and key support levels could trigger a stronger correction for XRP. However, this projected downtrend is expected to pave the way for a reversal to higher target levels.XRP Price Outlook Tied To Bitcoin RetracementWhile the broader crypto market continued to trend lower, crypto market expert Tara shared a fresh technical analysis on XRP. On Tuesday, she stated in an X post that the current XRP price structure shows it is completing a deeper pullback compared to Bitcoin, which is still progressing through its corrective phase. According to her, this mismatch is likely to create irregular price behavior for XRP in the near term.Tara noted that XRP recently touched the 0.382 Fibonacci retracement level near $1.95 after crashing below $2 last week. On the other hand, Bitcoin’s price is only halfway to a similar Fibonacci level. She notes that Bitcoin’s gradual retracement could slightly disrupt XRP’s price movements. However, if BTC pushes for its 0.382 retracement near $88,800, the analyst believes that it could eventually serve as a major catalyst for renewed strength in XRP. In her analysis report, Tara highlighted key downside levels for XRP traders to watch closely. She disclosed that a breakdown below $1.916 could open the door for a short-term move toward $1.90, where the Lower Time Frame (LTF) support sits. She further added that another test near $1.88 remains possible as long as XRP continues to trade under $2.0.Notably, Tara has marked $2 as a key resistance zone that could cap any recovery attempt from XRP. She notes that a move back to this level would likely depend on Bitcoin pushing higher during its retracement. The accompanying chart clearly shows XRP trading in a downtrend on the 4-hour timeframe with price remaining below short-term Moving Averages (MA). Fibonacci levels also highlight $1.95 as a complete retracement area, while deeper support zones cluster between $1.90 and $1.88. The RSI indicator at the bottom of the chart is hovering in the lower range, suggesting weakening momentum but also the potential for a relief bounce if support holds. XRP Short-Term Rally Stays Under $2.30Responding to questions under her X post, Tara provided insights into XRP’s price outlook, focusing on both short- and long-term expectations. She noted that the $2 level only represents the LTF resistance for XRP, while the real barrier lies much higher at $9. Currently trading around $1.91, a move to $9 would reflect a more than 374% price increase. Given XRP’s downtrend and broader market uncertainty, Tara has indicated that a rally to $9 is unlikely in the near term. She also dismissed claims that the cryptocurrency could crash to $1 this December. Instead, she shared her bullish expectations, suggesting that XRP could reach no higher than $2.30 before the year runs out.