XRP Price Movement: Analysts Predict Potential Decline Amid High Volatility

The price movement of XRP has been a topic of concern among investors due to its bearish structure, which has sparked fears of a significant decline. According to CasiTrades, selling forces have taken over, and previous support levels have turned into resistance.

Data from CoinGlass shows a surge in activity in the Ripple derivatives market, with trading volume jumping 33% to $6.20 billion and open interest increasing by 6% to $2.39 billion. However, this uptick may also indicate high volatility ahead.

Crypto analyst TARA notes that confirmation of the bottom or lowest point for XRP is still unclear, but if the price breaks the .618 macro level at $1.47 cleanly, it could signal a trend reversal. The current price around $1.44 presents investors with a choice between waiting for confirmation or preparing for a potential decline.