Buying pressure plummets 11%...Ripple (XRP), $0.90 forecast raised

XRP buying pressure plummets...Warnings of $1 collapse lead to $0.90 forecast

▲ XRP/AI generated image ©

According to cryptocurrency media Watcher.guru on July 2 (local time), an analysis suggests that XRP (Ripple) buying pressure has significantly weakened, increasing the likelihood of further declines in the coming weeks. TradingView data showed an 11% decrease in buying activity, and if this trend continues, XRP could drop to the $0.90 range, the media reported.

The media analyzed that XRP is currently approaching an important psychological support level, and its future price direction depends on market momentum. Long-term investors are not actively buying even at this year's lowest prices, and an atmosphere of waiting for confirmation of a bottom before entering is forming. Furthermore, with the overall upward momentum of the cryptocurrency market, including Bitcoin (BTC) and Ethereum (ETH), weakening, meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have also moved away from market interest, it added.

Watcher.guru also raised the possibility that if buying pressure further weakens, XRP could follow a similar trend to Cardano's ADA. ADA is currently trading around $0.15, and XRP could face a similar situation if it fails to regain investor interest, it assessed.

The media analyzed that the recent shift of market funds to the artificial intelligence (AI) industry is also a burden on the cryptocurrency market. While the corporate values of AI-related companies and suppliers of power, high-bandwidth memory (HBM), and GPU chips continue to rise, the inflow of funds into the cryptocurrency market is slowing down, it explained.

Currently, XRP is trading around $1.05, testing the $1 mark. The media predicted that if XRP, which recorded an all-time high of $3.65 last July, drops to $0.90, it would represent a decline of approximately 71% from its peak, effectively giving back most of the gains accumulated over more than a year.

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