Analyst warns: XRP price could crash to $0.80 if this level is broken

The XRP price is once again under pressure due to the ongoing decline in the crypto market. The coin has fallen back to just over $1 and, according to analyst Ali Martinez, is approaching a key support level.

If XRP falls below $0.99, a further decline towards $0.80 could follow. That would represent a loss of over twenty percent.

Crypto analyst Ali Martinez warns on X that XRP has reached a critical juncture. The coin previously failed to break through the resistance level around $1.55. Since then, the price has fallen significantly.

According to Martinez, XRP is moving within a downward price channel and the coin has now reached the lower end of it. That is around $0.99.

According to the analyst, that level is crucial. If XRP fails to stay above this threshold, the decline could accelerate towards $0.80.

At a price of around $1.02, that would represent a further decline of almost 22 percent. XRP would thus fall back to levels last seen around the 2024 U.S. presidential election.

The currency is already down by about eighteen percent this month. Since peaking at around $2.35 earlier this year, more than half of its value has disappeared.

The problems with XRP are not isolated. Virtually the entire crypto market is under pressure.

The Bitcoin price fell below the key $70,000 mark on Friday. The currency previously hit a low of around $68,000, followed by a cautious recovery towards $69,000.

The total value of the crypto market has also fallen sharply. At the beginning of November, all cryptocurrencies together were still worth about $2.6 trillion. By Friday, that had fallen to around $2.31 trillion.

As a result, nearly $300 billion in market value has disappeared in less than two weeks.

The decline is linked to the worsening sentiment in the financial markets. Disappointing US inflation figures have reinforced expectations of further interest rate hikes. The turmoil at major technology companies is also putting pressure on risky investments.

Higher interest rates make safe investments such as government bonds more attractive. As a result, the willingness to invest in riskier investments such as crypto often decreases.

In addition to rising interest rates, the crypto sector is grappling with concerns about the security of digital assets. Major hacks have put pressure on investor confidence.

The rapid development of artificial intelligence and quantum computers also raises questions about the future security of crypto networks. These are mainly long-term risks and do not directly explain the current price decline.

At the same time, the turmoil surrounding Nvidia, following the departure of CEO Jensen Huang, has heightened concerns about technology stocks. Investors fear that not all companies will be able to meet the high expectations surrounding artificial intelligence.

For XRP, the $0.99 threshold remains particularly important. According to Martinez, a convincing drop below that level could open the way to $0.80. As long as that level holds, a recovery remains possible.