XRP Plunges Over 10% as Analyst Warns of Lower Price Targets
XRP has taken a hit in recent days, plummeting by over 10% in the last 24 hours and 11.2% on the week. The cryptocurrency is currently trading at $1.27. Analyst Casi Trades warns that unless XRP can reclaim and hold the support level of $1.65, lower price targets remain a possibility.
The analyst has identified three key levels to watch: $1.10, which offers strong technical support; $0.87, where hitting this level would mean the recovery takes longer than expected; and $1.78, which is seen as a potential target if XRP can break above $1.65.
Casi Trades emphasizes that the Fed's rate announcement today could be a market-moving catalyst for XRP's next move. Markets are pricing in a 93% probability of a quarter-point hike, and the Fed Chair's press conference may hold more significance than the actual rate decision itself.