XRP (XRP) could be up for a notable downward trend, as a prominent market analyst has predicted a steep price decline below $2.

Prominent market analyst predicts XRP could be set for a notable downward trend, as the token faces crucial support at $2.

XRP Could See Further Downsides

According to analyst BLOCK BULL, the worst may still be on the horizon for XRP. In his April 29 X post, he predicted further downsides, specifically targeting a drop below the crucial $2 support zone.

The market analyst cited an XRP rejection from the tip of a bull flag pattern on the daily timeframe. The token could not overcome the resistance in the region, eventually receding by over 8% so far.

Following this downturn, the commentary predicts a steep price decline to $1.55, representing a 30% regression from the channel’s top and 28.6% from the current market price. Notably, the price mark aligns with the bottom of the flag pattern.

However, the analyst believes that the possible capsize was only temporary and a perfect entry position for traders. He urged investors to hold their bags, as whales capitalize on dumps of this nature for maximum profits.

Crucial Support Holds Despite Downturn

Meanwhile, analyst BitGuru highlighted in a parallel tweet that despite XRP’s downside, it still holds a crucial support area.

The high-ranking asset has corrected over 6% in the past two days, slumping from $2.30 to $2.15, yet the analyst noted that it has held above a consolidation range on the 1-hour timeframe.

Trending above the range’s support at $2.15 could spark a rapid price rebound to around $2.25 and possibly even higher prices, the market watcher added.