XRP faces challenges near $2, with analysts predicting a potential rebound or further dip in the coming weeks - IcoHolder.

XRP has experienced a slight decline of over 1% in the last 24 hours, continuing its struggle to maintain support above the crucial $2 threshold. The $2 level has been pivotal in recent months, and a sustained dip below this mark could signal further challenges for the cryptocurrency. Meanwhile, broader market sentiment has begun to shift, with Bitcoin trading above $85,500, suggesting potential changes on the horizon.

Analyst Egrag Crypto predicts that April could be a defining month for XRP, with the price likely to test both the lower and upper boundaries of its current range. According to Egrag, XRP may dip to as low as $1.90–$1.79, a move expected to occur through a "wicking" process. On the other hand, the upper range near $2.80–$3.00 could also face testing, with a similar pattern of price fluctuations.

If the lower range holds, there is potential for a substantial rebound, with XRP potentially seeing a 62–70% increase from its lowest point. Egrag describes the market as being in a "boredom phase" but suggests that after one final dip toward the $2 region, a significant upward move could be in store for XRP in this cycle. The coming weeks will be crucial in determining the cryptocurrency's next major move.