XRP fell toward $1.42 on Thursday, extending the broader crypto selloff as Bitcoin dropped toward $81,000 and investors continued reducing exposure to risk assets.
Market data showed XRP falling roughly 5%-6% over the latest session, after trading near $1.50 a day earlier.
Despite the weakness, one of XRP's more aggressive long-term technical targets remains dramatically higher. Analyst Chart Nerd has argued that XRP could eventually reach $27 if its long-term structure continues to resemble the breakout cycle seen in 2017.
XRP Breaks Below $1.50
The immediate setup is far less bullish.
XRP has lost the $1.50 area after spending much of the past two weeks around that level. The decline has taken the token toward $1.40, which is now emerging as the next important support zone.
The move is not being driven by an obvious XRP-specific negative catalyst. Bitcoin, Ethereum and other major cryptocurrencies are also falling as rising bond yields and elevated oil prices hurt speculative assets.
Brent crude surged above $104 on Thursday, while U.S. Treasury yields remained near multi-decade highs. The crypto selloff has intensified as those macro pressures combine with a relatively strong dollar.
Long positioning has also been hit. Recent market data showed the overwhelming majority of XRP liquidations coming from leveraged longs, adding forced selling to an already weak market.
Why Does the Analyst Still See $27?
The $27 case is based on long-term technical structure rather than current fundamentals or a near-term price forecast.
Chart Nerd argues that XRP's present setup resembles the consolidation that preceded its enormous 2017 advance. Under that framework, another large breakout could eventually push XRP into the $20-plus range.
Interestingly, Standard Chartered has separately published a long-term XRP forecast reaching $28 by 2030, although that projection is based on a different methodology.
Coinpaper previously reported the $27 scenario, including the role that lower leverage and a broader market expansion would need to play.
