Bitcoin is drifting around the $66,000 mark again on Friday, and traders are growing cautious as bearish signals reappear across the charts. The broader market weakness is spilling over into major altcoins: XRP is trading in the red, sliding into the $1.30 area after losing roughly 38% of its value over the past month.
Short-term support has held around $1.30, but XRP’s outlook remains tightly correlated with Bitcoin. Some market participants are increasingly vocal about a deeper BTC correction — calls for a drop toward the mid-$50,000s (and even a $52.2k level flagged by some analysts) could pressure altcoins further and send XRP below $1 if realized.
Crypto analyst Tara shared a technical update on X, outlining two key scenarios for XRP:
- A bullish case with an upside target near $1.65 if momentum improves.
- A bearish case where failure to maintain momentum could see XRP revisit $1.30 — or slide substantially lower to roughly $0.75–$0.85, which would mark a yearly low and erase 2024’s gains.
Tara pointed to Fibonacci resistance and support levels in her analysis, noting XRP already hit the .382 resistance at $1.53. She warned that a new BTC low to the $52.2k support level could pull XRP down to its .786 Fibonacci support around $0.87.
The risk is not isolated to XRP: Ethereum has also slipped back under $2,000, reinforcing the fragile market mood. Analysts say a decisive break below key support levels could trigger broader sell-offs, making entry positions in Ripple’s token particularly risky for now.
For traders and investors, the message is clear: price action for Bitcoin will likely dictate XRP’s next major move, and protective risk management is advisable while downside threats remain elevated.
Read more AI-generated news on: undefined/news
