- XRP has fallen more than 8% in the past 24 hours as the digital asset briefly dropped below $2.
- Egrag Crypto believes that XRP could soar to $320 by the end of 2026.
- CryptoBull said that XRP bottom has been reached and set $4 as the next target.
XRP has plunged, now ranked fourth by market capitalization, and losing 8.4% in its pricing within the last 24 hours to now trading at $1.99.
Just in the past week, the altcoin was down 23.6%, that has now led investors to ask: a potential $1 crash by as early as March 1st?
But, despite the downturn, prominent analyst Egrag Crypto remains bullish, suggesting that XRP could still reach $320 by 2026.
In a post on X (formerly Twitter), the analyst shared a chart indicating that the price could even surge to $800 in an extreme bull case. Egrag Crypto reassured investors that any price below these levels would be a golden buying opportunity.
Analyst Optimism and Technical Patterns
Similarly, another analyst, CryptoBull, echoes this optimism, asserting that “XRP is bottoming here and then goes above $4!” This claim aligns with the chart below, which depicts a descending wedge pattern, a technical setup that historically precedes strong breakouts.
SEC’s February 27 Meeting Outcome Still Not Out
The United States Securities and Exchange Commission (SEC) held a closed-door meeting on February 27th, stirring speculation about its stance on the Ripple vs. SEC lawsuit. According to the Sunshine Act meeting agenda, the SEC discussed enforcement actions, administrative proceedings, and litigation settlements.
Related: XRP: Bearish Allegations vs. Bullish Technicals and Japan Adoption Surge
With the regulator dropping cases against Coinbase, Uniswap, OpenSea, and the latest against Consensys, market participants believe that the SEC will also drop its lawsuit against Ripple, potentially sending XRP higher.
XRP Price Analysis
The daily chart provided by TradingView below shows that the Relative Strength Index (RSI) shows a value of 28.90 for the XRP token, meaning that the digital asset is oversold. The gradient of the line suggests further downside for the token, but this could represent a favorable entry point for buyers.
Related: XRP Escrow Under Fire: Lawyer Debunks “Price Dump” Theory
Also, the XRP price action has lost the lower Bollinger Band at $2.07 as support as XRP has broken below the $2 price tag. If bulls gain control, a retest of $2.49 is likely, but if sellers remain dominant, $1 could be in play for XRP by as early as March 1st.
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