Recent weeks have witnessed XRP’s price experiencing a significant downturn, plummeting below the crucial $2 mark and raising questions about its future trajectory. The coin is now trading around $1.93 after a 3% decline in the last 24 hours. This inability to hold above the level has sparked worries about potential further declines. Traders are wondering how much lower XRP can go, as investors face significant losses with this new price point. Analysis suggests that the megaphone pattern on its weekly chart could guide XRP’s journey toward a deeper correction, potentially targeting the $0.88 mark – representing a 54% drop from its current level. A breakout below the lower trend line around $1.80 would confirm this pattern. Meanwhile, key support levels at the 100-week simple moving average (SMA) at $1.60 and the 200-week SMA at $1.05 should also be noted. The weekly RSI has dropped to a level of 39 from extremely overbought levels in December. Additionally, XRP’s Net Unrealized Profit/Loss (NUPL) is transitioning from euphoria to denial, signaling increasing downward momentum. The growing number of holders underwater at current prices – exceeding 41.5% – suggests potential increased sell-side pressure as investors face losses. This pattern, coupled with a similar setup in previous market crashes in 2018 and 2021, raises concerns about future pullbacks. Notably, realized losses on XRP have surged to levels not seen since April. The surge in realised losses, according to blockchain data platform Glassnode, is indicative of mounting selling pressure. With these factors contributing to a decline in price, questions are being raised about the long-term stability of XRP’s value. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making any decisions.