On Thursday, the XRP price plunged below the psychologically important level of $0.25 and is now trading at $0.23, showing a decline of 5.51 percent.
As Bitcoin price has plunged even lower, the cryptocurrency market is going through a bloodbath.
Ethereum and EOS are suffering the most, both losing over 12 percent.
Next comes Bitcoin Cash (-13.10 percent), then father crypto Bitcoin (-10.28 percent), Litecoin, Bitcoin SV and Binance Coin.
A crypto analyst is forecasting XRP to slide further down to $0.22.
However, he points out to the fact that the XRP price is forming a Falling Wedge pattern. Wedge patterns have a high chance of reversing, so in the case of the Walling Wedge, the community might perhaps see XRP ascending soon.
Still, a recent forecast offered by @themooncarl analyst, when BTC also formed a Falling Wedge pattern, has not come true.