- XRP fell to $1.78, raising concerns of a deeper move toward $1.50.
- An analyst believes the correction phase may be ending after liquidity hunting.
- A bullish target of $4.22 implies potential upside of around 120%.
Ripple’s XRP dipped to a local low of $1.78 early Friday before stabilizing near $1.84, extending a rough week that saw the token shed nearly 10%. The weakness has fueled fears that continued downside could drag XRP back toward the $1.60–$1.50 zone, effectively revisiting its November 2024 lows and wiping out recent gains. For many traders, sentiment remains fragile as the broader market struggles to find footing.
Analyst Says XRP Could Be Near a Bottom
Despite the gloomy price action, analyst Keertivasan shared a more optimistic view on TradingView, suggesting XRP may be approaching the end of its correction phase. According to his analysis, current price levels could offer an accumulation opportunity rather than a warning sign. He argues that XRP’s structure on the weekly time frame points to a setup where downside liquidity is being cleared before a stronger upward move takes shape.
Liquidity Hunting Could Set the Stage
A key part of the thesis revolves around liquidity hunting, a tactic often attributed to institutional players. In simple terms, this involves pushing price into areas where retail stop-loss orders tend to cluster, usually near obvious support or resistance levels. Once that liquidity is absorbed, larger players can enter positions more favorably. Keertivasan believes XRP may be in this exact phase now, with further downside used to sweep liquidity before the next impulse higher.
A $4.22 Target Remains in Play
If the setup plays out as expected, the analyst sees XRP making a strong move toward a $4.22 target. From current levels, that would represent a potential upside of roughly 120%. In practical terms, a $1,000 investment at today’s prices could grow to around $2,200 if the forecast proves accurate. Still, this scenario assumes broader market conditions don’t deteriorate further.
Caution Still Warranted
The wider crypto market remains under pressure, with Bitcoin trading near the $86,000 range and risk appetite muted. While the bullish case for XRP is compelling on paper, near-term volatility could persist. As always, investors are advised to do thorough research and consider market conditions carefully before taking new positions.
