Crypto analyst Ali Martinez has flashed a new XRP crash warning. He revealed a bearish roadmap indicating the token could fall as low as $0.15 after losing a vital support zone.
Analyst Sounds Alarm Over Potential XRP Crash
In a thread on X, Martinez highlighted three accumulation zones at $0.70, $0.32 and $0.15 for Ripple’s XRP. It implies that the current XRP crash may further extend, assuming sellers maintain their dominance.
XRP price chart analysis. Source: Ali Charts | X
He also added his remarks after XRP fell below the crucial $1.10 support level. The dampened market sentiment and caused anxiety of further declines.
On Wednesday, XRP was trading around $1.08, as other cryptocurrencies continued to slide. The XRP crash has coincided with growing concerns that the Federal Reserve may adopt a more restrictive monetary stance. Such expectations come as CPI inflation accelerated to 4.2% year-over-year in May, up from 3.8% in April.
After inflation, traders ramped up their expectations for higher rates, pushing in the odds of a September hike notably higher.
After the June 17 FOMC meeting, Federal Reserve Chairman Kevin Warsh reiterated that the Fed is committed to bringing inflation back to its 2% target. His remarks suggested a hawkish stance, which is weighing on risk assets like crypto, including Bitcoin, Ethereum, XRP and others.
Current Scenario For XRP Price
XRP continues to tell a bearish story on the technical side, trading below all major trend indicators. The current downtrend is quite powerful with the XRP crash below the 50-day EMA at $1.24, 100-day EMA at $1.34, and 200-day EMA at $1.55. Also, the XRP price is trading below the Bollinger bands upper level of $1.14 and slightly above the lower band at $1.07.
XRP price chart today. Source: TradingView
There is little respite from momentum indicators. Buying demand is weak with the Relative Strength Index around 35 and the MACD just slightly above zero.
If the XRP crash continues and the $1.07 support levels fail to hold then traders may start to shift focus to Martinez’s downside targets: $0.70, $0.32 and finally $0.15.
On the positive side, XRP would have to break above $1.10 and then move up to $1.15 for further upside. Thereafter, it can go beyond to find its footing into the $1.20 and $1.30 range and even higher if there’s the progress on CLARITY Act.
Moreover, another bullish case is that spot XRP ETF inflows have soared despite geopolitical tensions. These funds are nearing $1 billion in assets under management.
