XRP Breaks Below Key Levels, Analysts Predict $1.65

XRP, the native cryptocurrency of the Ripple network, has experienced a significant drop in price, breaking below key demand levels. Analysts are now predicting a potential decline to $1.65, as the broader crypto market remains under pressure.

Despite the recent 20% drop since last Sunday, XRP has managed to hold above critical support levels, with bulls attempting to defend the price from further declines. However, the selling pressure has added to market uncertainty, as investors eagerly await signs of stabilization.

Top analyst Ali Martinez shared an analysis on XRP, revealing that the cryptocurrency is breaking out of an ascending parallel channel, signaling a potential downside. According to Martinez, XRP could target $1.65 if the breakdown continues, making the next few weeks crucial for its price action.

The overall market remains under pressure, with altcoins struggling to reclaim key levels. Bulls could push for a recovery if XRP manages to hold above $2 and regain momentum. However, failing to defend this support could result in a deeper correction, putting additional pressure on the broader crypto market.

XRP is trading below key levels as it tries to reclaim bullish price action amid the broader market selloff. The entire crypto market has been under pressure after Bitcoin lost its weekly support, triggering panic and increasing selling pressure across altcoins. XRP, like most major assets, has struggled to hold its ground, dropping sharply over the past few days.

Martinez’s analysis on XRP reveals that the cryptocurrency is breaking out of an ascending parallel channel, signaling a potential move lower. According to Martinez, XRP could target $1.65 if it fails to hold current demand levels. This breakdown aligns with the overall market weakness, where bulls are struggling to regain control.

Despite the bearish outlook, XRP is still holding above the $2.20 mark, where buyers are attempting to defend the price from further declines. Short-term selling pressure seems to be fading, and if bulls can maintain support above this level, a recovery could be on the table. However, if XRP fails to reclaim the $2.40 level soon, bears could take control and push the price further down.

The next few days will be critical for XRP’s price action as the market looks for a potential reversal or continued downside. XRP