XRP is experiencing a bearish trend, with potential to drop to $1.20 as technical indicators suggest further decline. The cryptocurrency has fallen below significant support levels at $2.60 and $2.25, currently trading just above $2. Analyst Ali Martinez highlights the formation of lower highs and lower lows, indicating $2 as a critical support level. A breach of this level could see XRP plummet to $1.20. The 14-day Relative Strength Index (RSI) stands at 41.51, indicating reduced selling pressure, yet the fear and greed index remains cautious. Additionally, XRP is trading below its 50-day and 200-day Simple Moving Averages (SMAs), reinforcing the ongoing downtrend.