XRP Could See A Massive Price Crash To $1.9 If This Happens

XRP has managed to break past the $3 mark in the past 24 hours, and this has given readers a glimpse of bullish momentum. However, this breakout is not yet confirmed, as the XRP price is yet to make a weekly close above this price ￰0￱ cryptocurrency is still trading within a descending channel on the weekly timeframe, and in this context, an interesting technical analysisof crypto outlines a bearish scenario of what could happen if XRP loses its current ￰1￱ Warns Of Bearish Breakdown To $1.9 There have been different bullish predictions and technical analyses for XRP in recent weeks. However, crypto analyst CoinsKid has raised concerns about what might happen if XRP fails to maintain its position above critical support ￰2￱ analyst shared his outlook on the social media platform X, accompanied by a chart showing the potential downside ￰3￱ Reading: Analyst Highlights 2 Scenarios That Sends XRP Price To $9.6 And $33 According to CoinsKid, XRP has been going sideways since December of last year, but is finding stability along the bull market support band (BMS).

He described the current moment as the last bullish case for XRP, warning that a breakdown through the BMS could erase that bullish outlook ￰4￱ his words, “Lose the BMS and the bullish support at $1.90 and XRP could be in free fall.” Despite this, he noted that he still remains cautiously bullish for now, but the caution stems from the visible threat of losing these crucial ￰5￱ weekly candlestick chart that accompanied his post illustrates the situation ￰6￱ is sitting inside a descending channel, and the last three weekly candlesticks have been red after XRP was rejected at the upper trendline of this channel in ￰7￱ bearish scenario is based on XRP extending this rejection and then falling to as low as the lower trendline of this descending channel, which is currently around $2.2.

A break below this line would indicate that selling pressure has overtaken the support structure, likely setting up a deeper ￰8￱ next major support level is highlighted at $1.90, which coincides with a bullish support zone dating back to an order block formed in ￰9￱ Price Levels To Watch The $2.20 and $1.90 price levels represent the most important zones on the weekly ￰10￱ above $2.20 could still allow XRP to maintain its bullish structure in the longer ￰11￱ short-term support levels are at $2.8 and $2.72, and holding up above these levels will set up XRP for another attempt at breaking above the descending ￰12￱ Reading: Demand For XRP On CME Explodes As Reports Show Over $18 Billion XRP has managed to hold above $2.8 in the past few days.

Particularly, newfound buying pressure has allowed XRP to push past $2.9 and $3.0 in the past 48 hours, reaching an intraday high of $3.10. Interestingly, CoinsKid’s chart also leaves room for optimism. A bullish projection shows a scenario where XRP breaks through the channel’s upper trendline and rallies above $4. At the time of writing, XRP is trading at $3.05.

Featured image from Adobe Stock, chart from ￰13￱