XRP Price Dips to $1.37, Analysts Spot Upside Potential
Ripple (XRP) broke below key support at $1.37 on Tuesday, dipping to $1.37 under sell pressure and underperforming a slightly weaker broader market.
A slew of crypto analysts, however, spotted upside potential, with a target price ranging from $1.40 to $1.50, anticipating that dip buyers will move in at the price bottom.
XRP is caught between immediate technical weakness and promising regulatory developments, with its next major move likely dictated by whether it can reclaim $1.40.
Pressure mounted amid broader risk-off sentiment and altcoin rotation, triggered by geopolitical tensions that lifted oil prices ahead of the FOMC meeting.
The selloffs align with a broader bearish crypto market condition amid resurfacing geopolitical tensions. President Trump called off U.S.-Iran talks, spiking oil prices and triggering risk-off sentiment ahead of the April 28-29 FOMC meeting.
XRP decisively broke below the critical $1.40 support on high volume, turning that level into resistance. The move resolved a multi-month triangle pattern to the downside.
This was compounded by cooling network activity; XRP Ledger fees and daily transactions have fallen sharply, reducing fundamental momentum.
The immediate trigger is whether XRP remains below the $1.40 resistance pivot. The base case suggests continued bearish control, targeting the next support at $1.31 if $1.37 fails.
The risk case is a swift $1.40 reclaim with strong volume, which would signal a false breakdown and could trigger a short squeeze toward $1.45. The trend is bearish below $1.40, but oversold conditions could prompt a technical bounce.
Despite the breakdown, some analysis highlights a textbook cup-and-handle pattern forming on XRP’s chart, with a price target near $1.77. However, this bullish setup faces a major supply wall between $1.45 and $1.46, where over 1 billion XRP awaits sale.
This presents a conflicting technical signal for XRP. The pattern suggests latent bullish potential, but it is immediately countered by significant overhead selling pressure, meaning any rally will need immense volume to overcome it. Bitcoin Dips, Jack Dorsey Block Unveils BTC Proof of Reserves