XRP is on the verge of collapse: Hints from a billionaire hedge fund manager

The cryptocurrency market is once again under pressure as XRP struggles to maintain above key resistance levels. Currently trading at $1.82, down nearly 50% from its yearly high, raising concerns among investors. With the increasing economic instability and the emergence of pessimistic signals, billionaire investor Ray Dalio has issued a chilling warning—he believes that the global economy is on the brink of a major collapse. Ray Dalio warns about the economic collapse Famous hedge fund manager Ray Dalio has issued a stern warning about an impending economic collapse. He points to the skyrocketing global debt, particularly in the United States, where the national debt has now surpassed $36.7 trillion. Additionally, the growing budget deficit could put further strain on the financial markets. Dalio’s warning is bad news for investors in stocks and cryptocurrencies like XRP, which often follow the same market trends. His concerns arise as the U.S. stock market faces significant losses, with the Dow Jones and Nasdaq 100 rapidly falling. In just a few days, investors have lost over 10 trillion dollars, while the cryptocurrency market has suffered a loss of 1.5 trillion dollars. If the economy continues to weaken, XRP may face difficulties. Positive signs for XRP Although XRP is currently facing difficulties, it still has strong growth potential. Ripple Labs, the company behind XRP, is working to improve global payments and compete with the SWIFT system that banks are currently using for international transactions. At the same time, the SEC is reviewing several applications for exchange-traded funds (ETF) XRP. If approved, these ETFs could attract large investors and boost the value of XRP. In a promising prediction, Standard Chartered believes that XRP could surpass Ethereum in market capitalization within five years, with a price potentially reaching $12.50 by 2028. The price of XRP is at risk. As of now, XRP is trading around $1.82, reflecting a 7% fall in the past 24 hours, with a market capitalization of $105.9 billion. Considering the technical analysis, XRP has formed a head and shoulders pattern, a technical indicator often associated with a potential decline. The “head” of this pattern is identified at a level of $3.43, with the “shoulder” at a level of $3. The price has fallen below the neckline at around $1.9195, in line with the 50% Fibonacci retracement level. This fluctuation indicates the possibility that the price will continue to fall, with the next support level expected to be around $1,062.