$XRP Analyst Points to New Levels to Start Buying XRP as Price Drops 61% From Peak ๐ฅ
XRP has retraced significantly from its cycle high, falling about 61% from the $3.66 peak as bearish forces take hold of the crypto market. ๐ While the pullback has shaken sentiment, some analysts view the decline as a potential long-term opportunity rather than a breakdown. ๐
Notably, XRP dipped to $1.40 over the past day and has yet to recover, trading at $1.42 at press time. โฑ๏ธ
๐ Key Points
Price Drop: XRP is down 61% from its $3.66 peak, currently trading at $1.42. ๐
Accumulation Zone: Analyst Patel sees the first buy zone between $1.50โ$1.30. ๐งฑ
Maximum Opportunity: A drop below $1.30 could open a "prime" zone at $0.90โ$0.70. ๐ฏ
Long-Term Goal: Target remains $10, mirroring previous 600% rallies. ๐
๐ XRP Enters First Accumulation Range
Technical analyst Crypto Patel says the current structure closely resembles previous accumulation phases that preceded major XRP rallies. ๐
According to Patel, XRP has now entered a first accumulation zone between $1.50 and $1.30. He notes that this area aligns with prior support levels and a "fair-value gap" that historically attracts buyers during market resets. ๐ค
Currently trading at $1.38, XRP sits right within this range. However, Patel does not recommend aggressive entries yet. Instead, he suggests gradual accumulation (DCA) as strong retracements often take time to form durable bottoms. ๐งโโ๏ธ
๐ Deeper Pullback Could Open Larger Opportunity
Patel also outlines a secondary scenario if selling pressure continues. A breakdown below $1.30 could push XRPโs price into a lower demand zone between $0.90 and $0.70. ๐
He describes this as a potential โmaximum opportunityโ for long-term positioning. From a technical standpoint, this lower range overlaps with a previous launchpad zone that fueled massive upside moves in past cycles. ๐ซ
