Market analyst Ali Martinez believes that if XRP can avoid closing below a key technical formation, it has the potential to reach a new all-time high. XRP recently entered a potentially bearish phase, with three bearish candle closes and an 18.84% drop in price. Martinez confirmed that XRP has formed a bearish head-and-shoulders pattern, with the neckline at $2 being a crucial level. If XRP breaches below the neckline, it could lead to further price declines, but if it can retest the neckline and stage a recovery, it could reach $5. Another market watcher, CryptoLax, noted that XRP has held up better than other altcoins during the recent downturn. The 200-day Exponential Moving Average at $1.85 is seen as a major support level for XRP. The current price of XRP is $2.14.



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