After facing a significant bout of selling pressure, XRP has plummeted to the mid-$0.20 region and is now hitting price levels not seen since the lowest part of the 2018 bear market.<\/p>\n\n\n\n
Importantly, this latest sell-off may be emblematic of increasing technical weakness that could lead XRP to drop significantly further in the future, with one highly celebrated analyst noting that the cryptocurrency could drop as low as $0.02.<\/p>\n\n\n\n
At the time of writing, XRP is trading down nearly 9% at its current price<\/a> of $0.269 and is down significantly from its 24-hour highs of over $0.30.<\/p>\n\n\n\n Importantly, XRP did post a slight bounce after hitting lows of $0.256 but has failed to maintain any upwards momentum in the time since.<\/p>\n\n\n\n XRP is not alone in facing significant selling pressure today, as many major altcoins posted a significant sell-off that has led many cryptos to drop 10% or more from their 24-hour highs.<\/p>\n\n\n\n Currently, Ethereum is trading down 8.8% at its current price of $189.3, Bitcoin Cash is trading down 7.7% at its current price of $315.7, and Litecoin is trading down just under 8% at its current price of $77.29.<\/p>\n\n\n\n This incredibly bearish price action is partially the result of Bitcoin\u2019s recent rejection<\/a> at $12,000, and subsequent drop to lows of roughly $10,000.<\/p>\n\n\n\n Although XRP is not alone in facing significant selling pressure today, Peter Brandt, a highly celebrated analyst, explained in a recent tweet that he believes XRP could drop as low as $0.02 in the future.<\/p>\n\n\n\n \u201cWill Ripple be able to manipulate the market to keep $XRP above .2400? A serious breakdown at this level, and .020725 is in the cards,\u201d he noted.<\/p><\/blockquote>\n\n\n\n