Ripple Tumbles Below Key Support, Analyst Warns of 30% Crash
XRP has broken below a key Fibonacci support level, and analysts are warning of a potential decline of over 30% from current levels.
The break below the 0.5 Fibonacci retracement level near $1.34 has invalidated the bullish technical structure that had previously supported a move toward $1.78, according to CasiTrades, a prominent cryptocurrency analyst.
XRP was trading around $1.26 on the 1-hour timeframe when the break occurred, down roughly 8% on the day.
The analyst has shifted her focus to a cluster of Fibonacci levels that could determine whether XRP stabilizes or extends its decline. The key support zone lies near $1.10, which represents the macro 0.786 Fibonacci retracement and aligns with multiple technical markers between approximately $1.08 and $1.14.
The analyst has warned that if this level fails decisively, the next major support lies near $0.87, a decline of roughly 31% from the current price.