• Ripple saw its upside journey retreat, and the alt risks another 40% decline.
  • The remittance coin could not galvanize enthusiasts’ enthusiasm, and bears aim $0.38.
  • XRP might secure dependable support of around $0.63 before plummeting further.

Ripple (XRP) plunged under the primary technical setup’s lower border. The level served as a critical support zone for the alternative crypto. For now, the crypto appears ready for a plunge, bears contemplating a 40% crash.

Ripple Might Drop to $0.38

Ripple saw its price collapsing beneath the symmetrical triangle setup’s lower boundary on its daily chart, predicting a 48% fall from XRP’s downward trend-line to a value area of $0.38. Bears kick-started the downside journey, and the altcoin awaited another 40% drop towards the mentioned bearish target.

The first defense line will appear at a multi-month support trend-line formed on 21 June around $0.63. Another footing might emerge at 25 June low near $0.58 before XRP falls toward 127.2% IB extension area at $0.50.

The remittance token might discover another dependable support around 24 March low near $0.45, then 11 March low of $0.42 before XRP declines to hit the bearish objective.

Nevertheless, buy orders surge will have XRP facing the resistance near 78.6% FIB retracement mark at $0.69 before aiming higher aspirations. Ripple might encounter another obstacle at $0.76, where 61.8% FIB retracement mark meets 21-day SMA.

More buying pressure might push Ripple price high towards 50% retracement zone of $0.81, matching the 50-day Simple Moving Average before eyeing the symmetrical triangle pattern’s top boundary at $0.90.

Breaking past the prevailing chart pattern’s topside trend-line might unveil additional upward momentum for Ripple price. Such a move might reverse XRP’s underperformance.

Nevertheless, the broad market sentiment seems to support Ripple’s downtrend. The global financial space has noted downswings within the past 48 hours. Assets in the crypto world remain weak, contemplating more crashes.

While publishing this analysis, Bitcoin rides bearish waves at 35,332.08. Moreover, analysts expect further declines below $30K by the bellwether crypto. Accomplishing such targets will mean a further bloodbath in the altcoin market. That way, Ripple bears might drag XRP lower hassle-free.