XRP Investors Watch for Potential Drop to 83 Cents
A decline to 83 cents might be an opportunity XRP investors have been anticipating.
Crypto analyst Egrag Crypto has pointed out a nearly nine-month descending wedge pattern on XRP’s price chart. Currently, the token is valued around $1.30 following a prolonged downturn.
The forecast suggests XRP may drop further before any notable recovery occurs, but this potential low could set the stage for a substantial increase—projected to reach as high as $8.30.
Six Months of Losses
XRP has now experienced six straight months of losses, marking its worst performance since 2014. In April, the token has continued on a downward trajectory, with a drop of 1.80% at the month’s start. If it concludes negatively, it will be the first time in history that it has seen seven consecutive months in the red.
The token peaked at $3.60 back in July 2025. Since then, its price has fluctuated between two downward lines: a resistance level above and a support level below. Each time the price hits one of those lines, it tends to reverse direction, creating this wedge pattern.
Despite its downward trend, it presents a unique buying opportunity and considerable upside potential. However, if the price closes above $1.80, it would invalidate the descending wedge structure. Conversely, if it fails, the next target price of 83 cents becomes clear.
Price Levels Affect the Outlook
Egrag’s observations suggest that XRP might initially attempt to rise to the resistance level located at $1.80. This area has previously blocked attempts to recover, notably in early January 2026 when it peaked at $2.41 before sharply rebounding. A rejection at this point would likely lead to another decline.
Following that resistance, the anticipated target sits at about 83 cents—the intersection of the wedge’s lower support line and a long-term uptrend line known as the Atlas line by analysts. This level is viewed as the critical floor of the current price structure.
Chart data imply that after hitting this low, XRP might bounce back above $1.00, possibly drop to around 91 cents to test the support again, and then initiate a larger rally.
If the sequence unfolds as expected, the breakout target could rise to $8.30.
This wedge has already endured some notable price fluctuations. For instance, during a market decline on October 10, 2025, XRP dropped from $2.80 to $1.36, reaching the lower trend line before rebounding. In early February 2026, further market pressure took the token to $1.11, where it again found support. Breakout conditions are reliant on two critical boundaries.
However, there are limits to the bullish scenario. Egrag’s analysis indicates that a close above the resistance line at $1.80 would negate the wedge pattern, altering the current setup dramatically.
On the flip side, if the price drops below the 83-91 cents support range, that could signal increased weakness and enhance the chances of further declines beyond what the current chart suggests.
