$XRP Could Plunge Down to the $1 Mark – Signs of a Bear Market?

The cryptocurrency market is facing significant volatility as many experts warn of a strong bearish trend. Recently, Ki Young Ju – the founder of CryptoQuant and one of the prominent cryptocurrency analysts – expressed the view that the bullish market for Bitcoin may have ended. He emphasized that on-chain indicators are all signaling a decline, as liquidity is gradually drying up. Is the Cryptocurrency Market Changing Direction? In recent years, Ki Young Ju has always maintained an optimistic view of the cryptocurrency market, even when the signals did not fully support the bullish trend. However, this time he has changed his stance and acknowledged that the market may be entering a bearish phase. He stated: "I have continuously asserted the bullish market over the past two years, even when the indicators were only neutral. But sorry, this time it seems we are entering a bearish market." This raises concerns about the decline of Bitcoin as well as major altcoins, including XRP. XRP Is Forming a Bearish Reversal Pattern On the technical chart, XRP is showing a "Head and Shoulders" pattern (Head and Shoulders) – a rare pattern but highly accurate in signaling a downward trend reversal. The structure of this pattern is as follows: The head of the model is formed at the highest level of the year. Two shoulders form around the level of $3. The neckline ( is around $2. If the price of XRP breaks below the neckline of $2, this will confirm a stronger decline. At that point, the next support level is predicted to be the psychological level of $1, coinciding with the 78.6% Fibonacci Retracement level. If this scenario occurs, XRP could lose up to 55% of its value compared to the current level. Market Psychology and Its Impact on XRP Fear is enveloping the market, as investors are concerned about the decline of Bitcoin and the ripple effect on other altcoins. As liquidity in the market becomes increasingly scarce, selling pressure may intensify, pushing the price of XRP further down. In addition, macro factors such as the monetary policy of the Federal Reserve )FED( and legal regulations regarding encryption may also negatively impact the price of XRP in the near future. Does XRP Have a Chance to Recover? Although the current situation is not very optimistic, there are still some factors that could help XRP recover: Support from the community and large organizations: XRP has a strong ecosystem and many strategic partners. Positive rulings from lawsuits related to the SEC: If there is positive news on the legal front, XRP could regain its growth momentum. General market recovery: If Bitcoin finds a bottom and starts to recover, XRP may follow suit. Conclusion XRP is at a crucial crossroads. If the price falls below $2, the likelihood of a plunge to $1 is very high. However, in the world of cryptocurrency, anything can happen, and investors need to carefully consider before making decisions. Closely monitoring market developments and continuously updating information will help you formulate the most reasonable strategy.