XRP hovers on key support as Bloomberg’s McGlone warns of a breakdown while CryptoBull bets on a long consolidation before a major upside breakout.
Summary
- McGlone warns that a sustained close below long-held XRP support could spark sharper declines and invalidate bullish calls.
- The correction from the November 2025 rally frames support as a critical line, even as a bounce could open a short-term recovery path.
- CryptoBull argues XRP is mirroring its previous bull run, needing extended consolidation at prior highs before a powerful breakout.
Bloomberg Senior Commodities Strategist Mike McGlone has issued a warning regarding XRP’s (XRP) price trajectory, citing the potential for the cryptocurrency to fall below a critical support level, according to statements attributed to the analyst.
The warning comes as a broader correction wave continues across the cryptocurrency market. XRP is currently trading near a key support level, making its price movements a focal point for market participants, according to market observers.
McGlone stated that a retest of the support level is imminent, emphasizing that a sustained close below it would invalidate bullish price predictions and could lead to further declines. The analyst noted the level has served as reliable support since the November 2025 rally.
The Bloomberg analyst, who has previously issued warnings about Bitcoin potentially falling to $10,000, predicted that sharper declines may be on the horizon for XRP as the correction trend that began in October continues.
In a bearish scenario for XRP, the support level remains important, while a bounce above higher resistance could signal a short-term recovery toward higher targets, according to the analysis.
An analyst using the pseudonym CryptoBull offered a contrasting view, noting that XRP was consolidating around its previous all-time highs. The analyst stated the price pattern is replicating the previous bull run.
CryptoBull said a longer accumulation period is needed for higher prices, predicting that XRP could consolidate around its previous high for an extended period before experiencing a major upward breakout. The analyst added that subsequent waves of momentum could take XRP to higher levels.
XRP’s price remained near recent levels at the time of the original report.
