XRP Worst Case Scenario: Expert Explains How to Maximize a Likely 59% Dip for XRP to $0.90
As XRP trades above $2, expert predictions point to the possibility of a significant drop if Bitcoin (BTC) faces a severe correction.Over the past day, the crypto market saw a slight recovery after an earlier bloodbath. Bitcoin briefly rallied to $83K today, and XRP reclaimed $2.20 after previously dipping below $2. Meanwhile, analysts warn that the danger is not yet over, with the possibility of further price drops.Edoardo Farina, Alpha Lions Academy's founder, shared his insights on navigating a potential bearish scenario for XRP. He offered both caution and optimism for investors.Worst-Case Scenario for XRPAccording to Farina, Bitcoin's performance is one of the key factors influencing XRP's price in the near term.He stressed that if BTC fails to hold the crucial $72K support level, it could lead to a steep decline, possibly crashing toward the $50K range. For context, Bitcoin is trading at $83,000 at press time.At this price, Bitcoin holds near the 61.80% Fibonacci level on the daily chart, as The Crypto Basic recently analyzed. It signals a potential post-retest reversal, especially given the initial intraday pullback. The analysis warns of a possible drop to $75,000, aligning with the 50.0% Fibonacci level.With this Bitcoin risk, commentators like Farina see a chain reaction that drives XRP down to as low as $1.20. This would mark a full $1 loss from the current level, or a 45% dip.However, Farina also anticipates a flash crash that could send XRP as low as $0.90. From current levels, this would mean a 59% dip.Meanwhile, he assures that this drop would be short-lived, lasting just a few minutes. He adds that XRP will likely rebound quickly from these lower levels.Set Strategic XRP Buy Orders Below $1While the chance of this worst-case scenario happening is relatively low, as Farina estimates it to be around 20%, he advises XRP investors to prepare for such an event. He suggests setting buy orders below $1 to take advantage of the potential dip.Meanwhile, Farina remains confident that XRP will not fall below the $1.20 support level again. He believes that any drop will be short-term and followed by a rapid recovery."If this happens, I expect XRP to bounce above $2 quickly," Farina concludes, offering optimism for long-term holders.https://twitter.com/edward_farina/status/1899577009698635839Other Bearish SignalsAside from Bitcoin-influenced risk, other analysts have pointed out inherent risks in XRP's chart that warn of a decline to $1. Specifically, these analysts have highlighted the formation of a bearish head and shoulders pattern on XRP's chart, which projects a major correction ahead before a rebound to new highs.
Text source: The Crypto Basic
