Cryptocurrency analyst Ali Martinez suggests XRP could drop below $1, presenting a long-term buying opportunity. While some commentators doubt such a decline, whale activity indicates selling pressure, with one anonymous entity opening a $1.5 million short position. Conversely, other analysts are optimistic about a price rebound, citing institutional interest through spot ETFs as a potential support factor.
The cryptocurrency market remains under bearish pressure despite minor recoveries. Analyst Ali Martinez stated he is monitoring the $0.90 level for Ripple’s XRP, suggesting a drop could offer a compelling long-term opportunity. XRP currently trades around $1.15, marking a 12% weekly decline.
Some social media commentators doubted the token would fall under $1. Others revealed buy orders placed at $0.50, which Martinez described as “not a bad idea.”
Recent whale activity signals potential further price declines. These large holders sold 60 million tokens in one week, indicating fading confidence.
An anonymous whale opened a nearly $1.5 million short position on XRP. Such investors are often rumored to possess non-public information affecting price.
Other analysts foresee a possible rally. X user CRYPTOWZRD noted a bullish daily close, suggesting a move above $1.15 could trigger an upside.
Joshua Dalton envisioned a price of $3.50 by June’s end. Trader Zach Humphries revealed purchasing XRP for the first time in two years.
“The last time I bought XRP it was at $0.50 and scooping it up at $1.09 feels like a very similar opportunity,” Humphries explained. Institutional interest remains solid, with spot XRP ETFs attracting capital even during the market downturn.
