XRP Breaks $2.20 Target, Next Stop $1.77

XRP's price action has been closely analyzed by crypto analyst CrediBull Crypto, who recently updated his assessment to highlight that the first target has been hit, with most local lows taken. In his earlier analysis from February 19, he predicted a potential rejection after XRP reached a local supply zone, expecting a sweep of the lows at $2.20 and ideally a further decline to $1.77.

The updated chart confirms that XRP has been rejected from the local supply zone and has reached the $2.20 target. Given the broader market context, the analyst believes there is a strong possibility that the price could extend further downward, potentially tagging the second target at range lows.

The February 19 analysis identified a critical supply zone between $2.7 and $3.00. XRP initially surged into this area, but selling pressure prevented a further climb, leading to a rejection. This aligns with supply zones acting as resistance levels where large sell orders are concentrated. As a result, XRP's price began trending downward after the local highs were taken.

In the updated chart, the rejection from supply has played out as anticipated. The breakdown was further confirmed by the breach of an ascending support. However, once this support was lost, selling momentum intensified, driving the price to the expected $2.20. The asset currently sits at $2.25.

While XRP has already met the initial downside target, the analyst remains open to further downward movement. The next key level is $1.77, representing a significant area of prior liquidity. Losing the $2 level will be a major blow to the digital asset, as it has already fallen below $2.3, which many experts marked as a crucial threshold to prevent a continued downturn. However, given the overall market conditions, the probability of this scenario playing out has increased.

CrediBull Crypto's update reinforces this outlook, as the analyst notes that "most of the local lows" have already been taken, suggesting that the price may now be drawn toward deeper liquidity zones. The $1.77 level is a logical next target if bearish momentum persists. Despite the corrective move, CrediBull Crypto maintained in his previous analysis that XRP's higher timeframe (HTF) structure remains intact. While short-term downside