Crypto analyst CryptoInsight has indicated that the XRP price is on the verge of another crash, with a potential drop below the psychological $2 level. The analyst also revealed the level that the altcoin needs to reclaim to invalidate this bearish outlook. 

XRP Price Risks Crash To Another Low

In an X post, CryptoInsight suggested that the XRP price could crash to a new low. This came as the analyst noted that on the lower time frame, the altcoin has made a higher low after bouncing from range lows. However, it has yet to make a higher high, which provides a bearish outlook. 

The analyst further remarked that until the XRP price makes a higher high, there is likely to be more chop while questioning the possibility of another low revisit. He indicated that XRP will need to break the descending triangle and through the $2.30 level before a reversal can be on the cards. 

However, CryptoInsight is still bullish on the XRP price in the long term. He noted that the higher-time-frame structure is still well and truly intact. The analyst added that the altcoin is holding the yearly range lows as support, which is also the previous 7-year resistance. In line with this, he declared that it is inevitable that XRP records a new all-time high (ATH) in the near future based on liquidity alone. 

Meanwhile, the analyst remarked that he is uncertain whether the XRP price will wick out to the bottom first to regain momentum. Overall, he remains bullish on XRP. Crypto analyst CasiTrades had stated that XRP might need to record one last low before it reverses and rallies to new highs. She highlighted $1.80 and $1.64 as areas that XRP could bottom at. 

XRP Likely To Retest $2.04 With Two Likely Scenarios

In her latest X post, CasiTrades stated that the XRP price is likely heading to retest the macro .5 Fib at $2.04. She noted that this level has been the most important one in the entire correction. Based on this, she outlined two scenarios that could play out if the altcoin drops to that level. The analyst described the first scenario as the bullish new trend. 

Under this scenario, if $2.04 holds as support, the XRP price could break above the $2.41 resistance and push toward $2.65, confirming a new bullish wave structure is forming. CasiTrades remarked that this potential move would strongly suggest that the macro low is already in, with the altcoin eyeing new highs between $7 and $10. 

Meanwhile, the second scenario is a bearish .618 support test. If the XRP price fails to hold $2.04, CasiTrades predicts that it would likely head toward $1.64, completing the full macro .618 retracement before launching into the macro Wave 3. 

At the time of writing, the XRP price is trading at around $2.08, down over 4% in the last 24 hours, according to data from CoinMarketCap.

Crypto analyst Dom has provided an update on what could spark the next XRP price surge. He highlighted an important level that the altcoin needs to reclaim for it to rally to $2.50, which would mark a new high since the October 10 liquidation event.

XRP Price Must Reclaim This Level To Trigger Another Surge

In an X post, Dom stated that the XRP price needs to regain the monthly rVWAP around $2.22, as that would be the shift for a rally towards $2.50. This came as the analyst revealed that an inverse of the XRP chart over the last six weeks shows a perfect 3-drive pattern, which is a very accurate reversal setup in crypto. 

Dom also stated a higher low has finally formed, which can hint at the first sign of a trend change developing. He added that the order books are clear and that there was no better time for this trend to shift for the XRP price. If the setup fails, the analyst remarked that acceptance below $2 is next and that the end-of-year price action could turn ugly. 

Crypto analyst Egrag Crypto also recently highlighted key levels to watch for the XRP price. He stated that a close above $2.60, which is above the Fib 0.5, is bullish, but doesn’t mean that the altcoin is fully out of the woods. Furthermore, he claimed that a close above $3.40, which is above Fib 0.888, is super bullish and would mean that the altcoin is back in a bull market. On the other hand, a close below the 21 EMA could spell trouble for XRP, according to the analyst. 

A Breakout To $2.75 Could Be In Play

In an X post, crypto analyst Ali Martinez stated that a breakout toward $2.75 could happen if the XRP price breaks above $2.28. His accompanying chart suggested a rally to this $2.75 level could open the door to a sustained rally to the psychological $3 level. Meanwhile, Martinez warned that XRP could drop to as low as $1.2 if it falls below the key support level at $2.  

Crypto analyst CasiTrades has predicted one final drop for the XRP price before it reaches new highs. She outlined two scenarios for the altcoin after a backtest of the $2.04 level. The analyst stated that a double bottom could form around $1.80, or the altcoin could see a deeper sweep to the $1.64, .618 macro support. However, it is worth mentioning that XRP has successfully broken above the $2.04 level, which could invalidate this setup. 

At the time of writing, the XRP price is trading at around $2.18, down in the last 24 hours, according to data from CoinMarketCap.