XRP Price Has Slipped More Than 5% Today, Slipping Below the $2.2 Mark, Sparking Speculations Among Investors

With a flurry of investors evaluating the potential future performance of the coins, experts have given mixed predictions, further fueling discussions.

XRP price today slipped more than 5% and slid below the $2.2 mark amid a broader crypto market selloff. With a flurry of investors evaluating the potential future performance of the coins, experts have given mixed predictions, further fueling discussions. Notably, a renowned trader has recently said that Ripple’s coin may crash to $1 while others are offering bullish forecasts despite the recent retreat.

The crypto slid more than 5.6% and traded at $2.19 during writing. Its one-day trading volume was up over 17% to $3.83 and the crypto touched a 24-hour high of $2.36. Besides, XRP Futures Open Interest fell 2% to $3.96 billion.

This bearish move comes as the crypto has been consolidating between the $2 and $2.5 mark over the last 30 days, while nearing a monthly high of $2.97. However, on the monthly chart, the crypto has lost around 0.5% with its current performance.

This bearish momentum comes despite a flurry of good news in the market. For context, Gemini co-founder Tyler Winklevoss recently shared a crucial update for the Ripple army. Besides, the US SEC is likely to drop the long-running case against Ripple, which has further bolstered traders’ sentiment.

Expert Predicts XRP Price Crash To $1: Here’s Why

Renowned trader Peter Brandt sounded the alarm on XRP, warning of a potential price crash to $1.07 if Ripple’s coin fails to hold above a crucial support level.

Brandt, a veteran analyst with decades of experience, identified a textbook Head and Shoulder (H&S) pattern forming on XRP’s chart. According to the trader, XRP is currently range-bound, and a break below $1.9 could trigger a sharp decline. He advised against holding XRP below this level, citing the H&S pattern’s projection of $1.07. However, he noted that a breakout of the $3 mark could invalidate the bearish scenario.

This also comes as Brandt recently hinted towards a potential BTC price crash to $70K. This has further fueled concerns among investors, as the altcoins often tend to follow Bitcoin’s path.

Other Experts Remain Bullish On Ripple’s Coin Future

Despite the recent dip and bearish prediction from Peter Brandt, a flurry of experts has remained bullish on the future trajectory of XRP price.

Renowned analyst CryptoELITES, who previously called for a 7,800% rally in Chainlink price, cutting his suggestion by more than half, reinforced his bullish outlook on XRP with a new price target of $15.

Highlighting his prior 600% gain since his initial prediction when XRP traded at $0.50, CryptoELITES pointed out that his predictions often come to fruition, urging viewers to heed his analysis.

Another expert, Dark Defender, joined in with his own bullish predictions and technical analysis. Displaying the 3-month time frame chart, Dark Defender noted a clear upward momentum. He predicted a 3rd wave targeting $5.85-$8.076 and a 5th wave potentially reaching $18.22-$23.20. Additionally, he identified a bullish rectangle pattern, suggesting new all-time highs on the horizon.

Meanwhile, in the short term, EGRAG CRYPTO foresees a potential “inverse head and shoulders” pattern, with a measured move targeting $3.7-$3.9. These expert predictions, in contrast to Peter Brandt’s recent forecast, have helped offset some concerns of the investors regarding the XRP price future.