Analyst dey warn say XRP fit drop below $1 because of sell pressure
XRP never fit reclaim levels wey reach $3 for di past week, e cause wan 4.4% weekly drop plus intraday wahala between $2.71 and $2.85. Di selling pressure come up after XRP drop e $3 matter on August 28. Three-day candlestick analysis for TradingView talk say bearish momentum still dey, e fit make am fall reach $1, and no many technical supports dey till then. If di current supports break, XRP fit even try di $0.70–$0.50 range again, to check di imbalance zones from e late-2024 rally. As di time dey write dis, XRP dey trade for $2.82, down 0.5% in 24 hours because crypto market sef dey fall linked to PCE data wey just show. Di trading volume and volatility still high, with 4% bounce back from intraday low of $2.71. Di critical level to watch na $2.70. If e break below this level steady, e fit trigger di bearish situation wey analysts talk.
Bearish
Di technical setup dey show say market fit turn bearish afta e fail to rally pass $3 plenty times. Three-day candlestick analysis dey show sey sellers get upper hand and no dey intermediate support, so e fit drop down go $1. Same kind corrections wey happen before for XRP and other altcoins dey usually cause quick drop when imbalance zones dem visit again. Short-term, traders fit push XRP below important support for $2.70, wey fit start stop-loss cascade. Long-term, e fit test imbalance zone around $0.70–$0.50 to bring back balance before any solid recovery. Macro headwinds from uncertain interest rate cuts dey add pressure, make trading caution dey important.