Analyst Maintains $0.70 XRP Outlook but Says Happy to Be Wrong

A widely followed XRP analyst has shared new updates on his earlier projection calling for a price dip to around $0.70.

This comes as XRP continues to hover around $1.30 for several months without much change. While price action remains muted, analysts remain split between downside risks and a potential recovery setup.

Key Points

• XRP holds near $1.30, and analysts remain split between downside risk and a potential recovery phase.
• ChartNerd says a drop to $0.70 is possible but would create a strong buying opportunity for investors.
• The asset has traded within a tight $1.13–$1.66 range for weeks, showing limited momentum.
• On-chain data suggests an accumulation phase, with deeply negative MVRV signaling a potential rebound.

Analyst Stands by Cautious Targets, but Hopes for Upside

In a recent tweet, analyst ChartNerd reiterated his earlier projection that XRP could revisit the $0.80–$0.70 range. However, he made it clear that he would welcome being wrong about this price prediction.

He noted that XRP is his largest holding, stressing that his lower targets are not to create fear but to prepare investors for all scenarios. According to him, a drop into that range would represent an opportunity.

At the same time, a move higher would validate bullish expectations and benefit him as a holder. He essentially sees any direction XRP takes as a win-win scenario, since a dip would be an opportunity to buy lower for further upside.

XRP Stuck in a Range

In his previous analysis in March, ChartNerd highlighted that XRP must break above key resistance levels at $1.80, $2.00, and $2.40 to shift momentum in favor of bulls. He stressed that as long as XRP remains below these zones, the possibility of a deeper retracement toward the $0.80 region remains on the table.

So far, XRP has held around $1.30 for two months without much price movement. In the first week of February, the price dipped to $1.13 but recovered to around $1.66 in the second week of the month.

Since then, XRP has neither exceeded $1.66 nor fallen below $1.13, keeping it mostly range-bound around $1.30.

Holders Sit on Heavy Losses

Meanwhile, the current range has not been favorable for long-term holders. Recent metrics indicate that the average XRP holder is sitting on a loss of around 41%, with the MVRV ratio at levels last seen during the FTX-era market stress.

More than half of the circulating supply is currently underwater, with consistent realized losses recorded over recent months. This ongoing selling pressure has contributed to XRP’s inability to sustain a strong recovery.

“Opportunity Zone” Emerges Despite Weak Sentiment

Despite the bearish backdrop, on-chain data suggests XRP is entering an accumulation phase.

Deeply negative MVRV levels have historically aligned with periods where selling pressure begins to fade. Current conditions indicate XRP may be in what analysts describe as an “opportunity zone,” a period when long-term investors start to re-enter the market.

Past trends show that similar setups have preceded strong rebounds. The last time XRP reached comparable MVRV levels, the asset went on to post over 60% gains in the following months.

Outlook

Ultimately, XRP’s price sits at a crossroads. Failure to reclaim higher resistance levels could open the door to the $0.70–$0.80 range highlighted by ChartNerd.

However, growing signs of market exhaustion and historical recovery patterns suggest that a base may be forming beneath the surface.

Whether XRP drops into a final correction or begins a recovery phase, the coming weeks will tell.