XRP Its price has performed worse than other assets over the past few months. For example, the asset lost 18% of its value over a three-month period, while other assets saw positive returns.
The overall negative movement in the altcoin price has led some investors to question the value of the asset. Others constantly wondered when a relief rally would occur.
After XRP lost certain support levels last month, the first level that investors should consider is the range between $0.47 and $0.48. Tested in September and October 2023 and now in early February, this range has proven difficult for bears to overcome.
altcoin, tends to see significant demand in the specified price zone, meaning that as long as these levels hold, there is little reason for the market to panic. However, a scenario that would require a downward test of the $0.43 support could present a worse outlook.
RippleFollowing a sell-off in the weeks following ‘s court victory in July 2023, the $0.43 level proved difficult for the bears to break.
A more concerted effort is needed for the bears to push XRP below this level. This lower range is not expected to be tested as overall crypto market sentiment is still cautiously bullish. However, if things get worse, $0.34 will be the next level to watch.
This range was last tested in July 2022, following the meteoric bull run in the crypto market the previous year. Ultimately, this range marked the bottom of the market and would be the ultimate bears could beat if things got extremely ugly for XRP.
As mentioned, it is difficult to foresee such worst-case scenarios for XRP, given the overall bullish sentiment in the crypto market.
With Bitcoin halving and the altcoin historically on the rise after a period of underperformance, the likelihood of it visiting lower support levels remains slim. XRP was currently trading at $0.5047, up 1.76% in the last 24 hours.
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