The post XRP could drop to $1.70, analysts say appeared on BitcoinEthereumNews.com.

Key takeaways: XRP forms an inverted V-shaped correction pattern on the daily chart, risking a 20% drop to $1.70. A bearish divergence from the weekly RSI points to increasing downward momentum. Declining daily active and new addresses signal reduced transaction activity and less demand for XRP. XRP price traded 18% below its May peak of $2.65, and a convergence of several data points signals a possible drop toward $1.70. XRP’s inverted V-shaped pattern hints at a 20% price drop XRP (XRP) price action between April 7 and June 2 has led to the appearance of an inverted V-shaped pattern on the daily chart. This follows an initial climb that saw XRP price surge 62% from a low of $1.61 in a sharp recovery stopped by buyer congestion at the $2.65 resistance level. Bears booked profits on this rally, resulting in a sharp correction to the current levels. The relative strength index (RSI) was facing down and dropped from 68 to 41 since May 12, indicating increasing downward momentum. XRP/USD Daily Chart. Source: Cointelegraph/TradingView As the price seeks to complete the inverted V-shaped pattern, it could drop further toward the pattern’s neckline around the $1.72 demand zone, representing a 20% price drop from the current price. Similar sentiments were shared by an analyst on TradingView, MasterAnanda, who said that reducing bullish momentum, coupled with rejection from key support areas, threatens XRP’s drop to sub-$2.00 levels. His latest XRP analysis shows XRP has broken below a rising channel, with three consecutive daily closes below the lower trendline.  “It looks like XRPUSDT can recover any minute now, but the bearish momentum continues to grow,” the analyst said in an accompanying note, adding that the altcoin might continue dropping until it reaches $1.72, where it could find support. “The correction might not be over.”…

---

Filed under: News - @ June 3, 2025 5:19 am