Analyst Says If You Didn’t Buy XRP Under $2, You’ll Soon Have Another Chance
Market analyst Income Sharks predicts that XRP could drop below the $2 mark amidst ongoing market turbulence that has pushed Bitcoin and other assets to yearly lows. XRP currently trades at $2.25 but faces potential dips to the $1.8–$2 demand zone before a recovery. Other analysts like Casi and Lingrid similarly foresee a test of these levels, emphasizing XRP's long-term bullish potential with projections of a rally to $7–$10 after the demand zone is filled.
Layer-1
Centralized Payments
Market Trends and Analyst Predictions
Income Sharks, a well-known market analyst, has suggested that those who missed XRP below $2 could soon get the chance to buy at that level. His recent commentary comes amid the ongoing market turbulence that has threatened to push multiple assets to yearly lows, including Bitcoin (BTC) and XRP. Notably, Bitcoin recently lost the $100,000 support, dropping to $98,943 earlier today before eventually recovering to trade at $101,741 as of press time.
XRP Price Movements and Past Opportunities
Meanwhile, XRP has defended the pivotal $2 support level more fervently, currently changing hands at $2.25 after recovering from a dip to $2.1 earlier in the day. Despite XRP's 2.21% increase today, Income Sharks believes a slump below the psychological $2 support is not out of the question.
Interestingly, these dips have also presented momentary opportunities for investors to enter the market below $2, but some appear to have missed them. The last opportunity arose during the Oct. 10 crash, which emerged as a flash crash, making it difficult for most investors to take advantage.
Upcoming Buy Opportunity Below $2
According to Income Sharks, another opportunity to buy XRP below $2 could be on the horizon as market uncertainties continue to drive price declines. In an accompanying chart, the analyst identified a demand area between $1.8 and $2. Notably, the current XRP dip could touch this range before any recovery takes place.
Support Levels and Long-term Structure
Below this demand zone, there lies a thinner support area between $1.7 and $1.8, which could act as the next cushion if the $1.8–$2 range fails to hold. Another market analyst, Casi, predicts a drop to this region, ranging between $1.72 and $2.04, while maintaining that XRP has preserved its long-term bullish structure.
According to Casi, once XRP fills this demand zone, it is likely to rally to between $7 and $10, aligning with a potential Wave 3 surge.
Historical Analysis and Bearish Risk
Market watcher Lingrid had already warned of a potential correction toward the $2 support last month. In an Oct. 18 analysis, she highlighted a descending channel, suggesting that XRP could dip to $2.1 to retest the lower trendline of this channel.
Notably, back in April 2023, when XRP traded for $0.51, analyst EGRAG described trading XRP under $1 as a life-changing opportunity.