XRP Price Faces Potential 38% Drop IF Key Support Level Fails, Analyst Warns

XRP price could potentially drop by 38% to $0.34 if a crucial support level fails, warns cryptocurrency analyst Ali Martinez. The support level at around $0.55 is currently being tested, and if it doesn’t hold, investors should be prepared for a sell-off scenario. Martinez suggests that XRP could reach lows not seen in over a year. The token’s price surged by over 45% in the past year but has lost around 9% over the last week. XRP’s adoption seems to be growing, with the number of wallets surpassing 5 million and transaction numbers remaining high. Additionally, a cryptocurrency analyst predicts that XRP could potentially reach $27 per token following Ripple’s legal victories over the SEC. Ripple faced a lawsuit for allegedly violating securities regulations, but the judge determined that XRP was a security when sold to institutional investors but not when sold to the general public.