Analyst says only buy $XRP if it reaches this level

XRP has been caught up in the general market downturn over the past week, losing 19% of its value amid pessimistic sentiment. This recession comes despite many analysts remaining optimistic about its long-term outlook. A particular technical analyst has now weighed in on the wise timing to buy XRP, warning that its short-term outlook is unstable and that its price may continue to fall. Analyst identifies ideal buying zone for XRP The past week has been a challenging one for XRP holders as the token has struggled to maintain critical support levels. The inability to hold these levels pushed it closer to the $2 mark. However, the latest technical analysis suggests that this decline may not be over yet, and there is likely to be a further bearish move. This decline in the price of XRP has caused increasing uncertainty among many retail investors, especially since XRP is increasingly becoming the currency of choice for retail investors during this cycle. Given XRP's growing reputation as a preferred retail currency and its long-term upside potential, this decline would be the best time for optimistic investors to buy more tokens. However, a cryptocurrency analyst recently warned that the current price level is not an ideal entry point for those looking to take advantage of the currency's upside potential.

Although XRP is one of the most promising cryptocurrencies from a technical perspective, the timing of the purchase is also crucial. In a post on X, the analyst noted that XRP is a "retail currency", which often attracts the attention of new investors, who believe that it will reach extreme prices such as $100. Despite this bullish momentum, he has warned against buying at the current price, stating that the best time to enter would be if XRP drops to the $1.6 to $1.5 range. This means that the current trend shows more bearish moves in the short term, and it would be wiser to wait further before accumulating. Long-term bullish case despite short-term weakness Although XRP's short-term outlook looks pessimistic, the analyst agrees with those who expect the price to rise sharply in the future. Some technical analysis has painted an optimistic picture, with some predicting the altcoin well beyond the double-digit threshold. An analyst, in particular, even predicted the price to rise to $27 despite the market being in a recession. The idea that XRP could eventually achieve double- and triple-digit valuations continues to attract interest from investors, but this prediction depends on market conditions and broader adoption trends. Meanwhile, holders are struggling, but not very successfully, to stem the decline. At the time of writing, XRP is trading at $2.16, down 7.04% in the last 24 hours. The issue now is whether the price can hold above $2 or not. Even if the price drops below this level, it only opens up the possibility of accumulation in the range of $1.6 to $1.5.