Declining spot and perp CVD, whale selling and a long-term bearish pattern signal a potential further drop for XRP, which might bottom near the $1.60 range.
The XRP (XRP) daily chart registered its lowest candle close in 99 days on March 10. The altcoin dropped below the $2 support level but registered a short-term recovery of 12% on March 11.
XRP 1-hour chart. Source: Cointelegraph/TradingView
On the high time frame (HTF) charts, XRP must hold above its psychological level at $2, but other metrics suggest that a deeper drawdown is possible.
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