XRP may face a significant price decline to $1.5 despite its recent recovery from bearish lows, according to a crypto analyst's latest projection.

The cryptocurrency is approaching a critical resistance level that must hold to avoid erasing recent gains. Trading at $2.8, XRP currently sits well above the identified danger zone.

TradingView analyst MadWhale shared the bearish forecast in a new price analysis, highlighting a potential 35% drop. "I have accurately identified and hit all gain targets," MadWhale stated, referencing his track record in predicting cryptocurrency trends.

The analysis suggests XRP is locked in a downtrend pattern. It continues making lower highs and lower lows within a descending channel, signaling a bearish structure.

The $2 mark represents a psychological barrier where sellers typically emerge. If XRP gets rejected at this level, the next support area would be around $1.90, representing a 17.62% value drop. A break below $1.90 could trigger the steeper decline to $1.5. This target price aligns with the lower boundary of XRP's current descending channel. MadWhale indicated this $1.5 level could eventually serve as a stabilization point, potentially leading to a price reversal once bearish pressures subside.

Recent chart activity shows XRP tested the upper boundary of the descending channel but faced rejection near resistance. The main daily resistance area appears at $2.6 on the analyst's chart, marking where significant selling pressure might intensify.

The current price stands significantly above both the analyst's resistance projections and potential crash targets. XRP has recently experienced a double-digit surge, reversing its previous downtrend in just one day.

This unexpected rally followed the inclusion of XRP in President Donald Trump's cryptocurrency reserve plan. The initiative aims to boost the country's debt strategy and crypto dominance. Following the announcement, XRP prices jumped 24.5%, pushing values above the $2.5 threshold.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.