Cryptokoin.com – Ripple (XRP) has seen intense selling pressure over the past few days, the downtrend continuing by Bitcoin and the unified crypto market is at risk of seeing significantly more losses in the coming days and weeks. A leading analyst now explains that he believes that he is on the verge of seeing fresh multi-year lows due to XRP taking a break below the key support level that previously supported the price of crypto money. If the bulls fail to override the drop from this last crash, XRP could fall to $ 0.15 in the coming days and weeks, according to the analyst.
Ripple (XRP) fall in the market
losing momentum
At the time of writing, XRP is under $ 0.20. Like many other major cryptocurrencies, its popular altcoin has caught an intense downtrend over the past few days and weeks. Cryptocurrency rose to $ 0.33 before the bulls lost their strength and started to drop the cryptocurrency.
Why is Ripple Price Falling? Here is the Secret of XRP Melting Like a Candle
This very sharp selloff has reached a boiling point when the cryptocurrency dropped to $ 0.20 a few days ago, and since then XRP has been trading at this level horizontally. However, he just dipped below this level. This decline came in response to a weak ground in the crypto markets, while Bitcoin currently hovered around the critical support level of $ 7,550, while Ethereum and other major altcoins all fell below key support levels.
Analyst: Ripple can be prepared for perennial fresh abortions and shift to $ 0.15
Magic, a popular cryptocurrency analyst on Twitter and TradingView, said in a recent statement that XRP believed the downtrend had just begun, and a head and shoulder model that recently called bears fell under the neck. Analyst added to his statements:
XRP clearly separated from the head and shoulder pattern, as the price could not recover above the 61.8% Fibonacci correction level.
In addition, the analyst stated that due to the strength of the ongoing downtrend, crypto money is targeting the move to new low levels of $ 0.15. Analyst added to his statements:
Based on this price move, it is clear that the downtrend remains intact. Therefore, the price target remains at the bottom of the blue wedge, which falls in the range of 0.15-0.16.
The expression of magic
if known, “point-of-shot XRP estimates”
Magic is an analyst with a high success rate in Ripple predictions for 2019 and 2020. The so-called analyst is known for “point-shot XRP estimates”. Therefore, according to experts, the analyst’s prediction should be carefully evaluated. .
Meteoric Forecast: Ripple (XRP) Can Bounce Hard If It Breaks This Level!
Unless the markets start to recover in the coming days and weeks, it is likely that XRP will continue to perform lower than Bitcoin, thus opening the doors to lower levels, according to analysts. For other critical news about cryptocurrencies What Will “Bitcoin Price” Halving Day “Be? Here are the tips of Master Analysts ” You can review our article named.
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