Analyst says XRP in full decline, could bottom around $0.8

XRP has entered a full-scale bear market, raising concerns of further declines, The Crypto Basic reported. Cryptocurrency analyst Chart Nerd noted that XRP's turn to a bear market was confirmed in January when it fell below the key support level of $1.8. The bearish trend is expected to persist as long as the price fails to break above $1.65, with the bottom of this decline anticipated to be between $0.7 and $0.8, according to the analyst. The media outlet added that XRP exhibited similar patterns following its price peaks in 2013, 2018, and 2021. While some in the community argue that expanding usability and institutional adoption will drive XRP's price, a counterargument remains that a cyclical decline is unavoidable, regardless of institutional involvement.