Cryptocurrency analyst Ali Martinez issued a new warning about the XRP crash. He revealed a bearish roadmap indicating that the token could fall to the $0.15 level after losing a vital support area.
The analyst is sounding the alarm about the possible collapse of XRP
In a post on X, Martinez highlighted three accumulation zones at $0.70, $0.32, and $0.15 for Ripple’s XRP. This means that the current XRP collapse could extend further, assuming sellers maintain their dominance.
He also added his comments after XRP fell below the crucial support level of $1.10. It has dampened market sentiment and caused concern of further declines.
On Wednesday, XRP was trading at around $1.08, as other cryptocurrencies continued to decline. The collapse of XRP coincided with growing concerns that the Federal Reserve may adopt a more restrictive monetary stance. Such expectations come Inflation in the consumer price index Growth accelerated to 4.2% year-on-year in May, compared to 3.8% in April.
Following inflation, traders raised their expectations for higher interest rates, increasing the odds of this happening September high Significantly higher.
After June 17 Federal Open Market Committee meetingFederal Reserve Chairman Kevin Warsh reiterated that the Fed is committed to returning inflation to its 2% target. His statements indicate a tough stance, affecting risk assets such as cryptocurrencies, including Bitcoin, Ethereum, XRP and others.
Current XRP price scenario
XRP continues to tell a bearish story on the technical side, as it trades below all major trend indicators. The current downtrend is very strong with XRP breaking down below the 50-day MA at $1.24, the 100-day MA at $1.34, and the 200-day MA at $1.55. also, Ripple price It is trading below the upper level of the Bollinger Band indicator at $1.14 and slightly above the lower band at $1.07.
There is little comfort from momentum indicators. Buying demand is weak with the RSI around 35 and the MACD just above zero.
If the XRP collapse continues and the support levels at $1.07 fail to hold, traders may start shifting focus to the Martinez level. Negative goals: $0.70, $0.32, and finally $0.15.
On the positive side, XRP should cross the $1.10 level and then rise to $1.15 for further upside. After that, it could go further to find a foothold in the $1.20, $1.30 range and even higher if there is… Progress in the law of clarity.
Moreover, another bullish case is that point XRP ETF Flows Despite geopolitical tensions. These funds approach $1 billion in assets under management.
