This week, XRP continues to show weak performance despite the overall crypto market rally. Expert forecasts on future price movements are in the spotlight.
Current Changes in the XRP Market
Over the past seven days, XRP has dropped by 4.7%, interrupting an 11% rally linked to news of Ripple's litigation with the SEC potentially ending. XRP trading volumes have also decreased notably from $4 billion to $2.6 billion.
Expert Opinions on XRP's Future
Veteran trader Peter Brandt pointed out the possibility of XRP price dropping to $1.07 if the 'head and shoulders' pattern plays out. However, according to Javon Marks, there is a chance for a positive outcome: the last breakout in a similar setup resulted in a 570% price increase.
Technical Analysis and Possible Scenarios
Despite the decline, the current market may not indicate an imminent drop to $1.07. Investors continue to show interest at prices above $2, and analysts believe the next few weeks will be crucial in determining the future direction of XRP price.
For now, the outcome for XRP remains uncertain, and future price movements will depend on various technical and market factors. The $2.50 level remains significant as a strong support and resistance line.
