XRP Price Tanks 12.8% This Week — More Pain to Come?

The XRP token reached its bottom at $2,081 and is now trading at around $2.09. This current price shows a 4.0% 24-hour fall in value for XRP and a 12.8% weekly drop.

Today, the crypto market has seen an overall drop in value, with the total market capitalisation decreasing 3.4%. Additionally, most coins are in the red today, with Bitcoin even falling to $81,362 before recovery. The XRP news is bearish too, as it started to drop when it couldn't break through the $2.220 resistance. After the rejection, the XRP price crash was imminent as it fell below the $2,20 support. As such, it continued to go under major supports like the $2.120 level, stopping at the $2.080 level.

XRP Price Tanks 12.8% This Week — More Pain to Come?

The XRP token reached its bottom at $2,081 and is now trading at around $2.09. This current price shows a 4.0% 24-hour fall in value for XRP and a 12.8% weekly drop. This also presents a 38.0% decrease below the $3.40 all-time high of this token. Additionally, the current price is also bearish and is under the 23.6% Fib retracement level.

Now XRP will be facing resistance from its 100-hourly simple moving average at the $2.150 level. Based on the XRP price prediction, a bearish trendline has now been created on the $2.148 resistance. The 50% Fib retracement level created from the fall from $2.215 to $2.081 is also close to this trendline. Adding to these bearish signals, a renowned trader and market analyst has also given a bearish prediction.

XRP Headed for a Crash? 50% Price Plunge Incoming

An industry veteran and expert, Peter Brandt, has now projected an XRP price crash. He also continued his prediction by alluding that now XRP only has speculative value. He supported his argument by bringing up some examples like Beanie Babies and Pet Rocks, which don’t have real value. These toys became speculative collectables between the 70s and 90s. Back then, many collected them in hopes of one day selling their collection with a profit. However, as time went on, they lost all of their value, making their rise in popularity only based on hype.

Based on Chart 1, Bandt’s XRP price prediction shows a 50% drop in value for the token. As highlighted in Chart 1, Brandt mentioned that a “classic complex” head and shoulders is usually used to indicate a reversal in price trend from bullish to bearish or the other way around. However, based on this analyst’s projection, XRP’s value can experience a sharp change in price in either direction. Bandt stated, “This could become bullish if 3.0 is exceeded, otherwise the implications is a decline to 1.07.”

Brandt’s optimistic prediction started in December 2024 when he highlighted a symmetrical triangle pattern breakout for the XRP token. He called this price movement the most powerful and projected a $500 billion market cap for January. But if we look at Brandt’s overall career, he is not a fan of the subject of this prediction. This disinterest in the crypto can also be seen in his tone in this prediction, which is in contrast to his usual analysis style.

Another crypto analyst, Ali Martinez, also shared concerning news. According to his findings, in the last 48 hours, whales have dumped more than 1 billion XRP tokens.

With all that said, bulls are still trying to prevent a further drop in XRP’s value. If they manage to push the price above $2.20, a continuation of the uptrend is expected, with a potential target at $2.250. But if the $2.080 support breaks, further price declines can be anticipated.