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Alright, here’s the rewritten version with a personal flair:
**XRP Might Dip to $1.10 if the Downturn Persists**
*Disclaimer: The opinions presented herein are solely those of the writer and do not represent U.Today’s position. We offer financial and market information for informational use only. Investing in crypto involves risk, and U.Today is not responsible for any losses. Always seek advice from a financial professional and conduct your own research prior to investing. We believe our content is accurate at the time of publication, but offers can end.*
Crypto analyst Ali Martinez highlights that XRP may be forming a head and shoulders formation on the graphs.
If this formation unfolds, the Ripple-associated crypto could decline to the $1.10 level. Yikes!
XRP experienced a setback during the market downturn on February 28th, reaching a low of $1.95. It has recovered somewhat since, increasing by over 15%, moving in alignment with other prominent cryptos.
Nevertheless, it is down 33% from its all-time peak of $3.40, achieved on January 16th.
With the price remaining below that key peak, XRP might have established the right shoulder of this negative pattern.
Notably, right shoulders frequently coincide with a decrease in trading volume, and that’s what’s happening with XRP.
The trading volume for the Ripple-linked crypto was only $2.7 billion on Saturday. Toncoin (TON) Value Forecast for March 26th
**Possible Positives**
While this pattern could be a negative indicator for XRP, there are some potential favorable elements that could disrupt the expectations of those wagering against it.
Based on Polymarket bettors, the likelihood of an XRP ETF being approved is presently at 75%, up from 72% just a few days prior.
As U.Today mentioned”
Currently, the U.S. Securities and Exchange Commission (SEC) has given the go-ahead to a number of XRP ETFs.
Based on Polymarket forecasts, there exists a 12% probability that the U.S. could create a national reserve supported by the XRP token.
Ryan Rasmussen, the research head at Bitwise Asset Management, stated last month that a wealth management group managing billions has designated XRP in their crypto holdings. Rasmussen emphasized XRP’s powerful brand awareness and superior advertising as crucial elements.
