XRP tanked to a four-month low, with analysts warning of further declines due to the breakdown below key support levels.
Ripple's XRP dipped by 20% and currently trades at around $1.70 as the entire cryptocurrency market experienced a major pullback.
Analysts speculate on XRP's potential move with predictions of the price dropping to $1.51 if Bitcoin keeps declining and a possible downfall to as low as $1.30.
Despite the bearish outlook, the Relative Strength Index (RSI) indicates oversold territory, hinting at a potential short-term rebound.