XRP Price Crash Is Not Over If This Support Doesn’t Hold
According to a crypto analyst, the XRP price is currently trading at a critical support level that could determine its next move if it fails to hold it. The analyst has forecasted that XRP could extend its decline to new lows after its recent crash below $1.60. This prediction comes amid a widespread market downturn, […]
Related News
The XRP price is still trending low after the recent market crash, which has put it below the $2.2 level. This has seen the breakdown of multiple support levels, leaving only the $2 support level to hold up for the bulls to hold. At the same time, there have been several formations on the XRP […]
Price at the time this article was written was: US$225.00. Last week’s article began with: “The price has broken below some significant levels and looks like it's going to test some very important levels below. The 50-day EMA has been a massive wall and it looks like the price has run out of energy trying to get and stay above it. Now a big test is coming, as price has broken below US$231, which has been mentioned in many previous articles as an area that needed to hold. Look for US$220 and the massive support area of US$210 to be tested.” So far the US$220 support level has held, but....
BTC price at press time: US$232.02. Last week’s article began with: “So far the US$220 support level has held, but price has not been able to move to the upside. It looks like it’s consolidating below that ~US$231 level and has been mentioned before the 50 day estimated moving average, which is now ~US$233. The US$220 mark is now providing support. If this doesn’t hold, then the big support area of ~US$210 better.” The US$220 held but price continues to consolidate below the 50-day EMA, it made a dash for US$235 but has rejected it and now sits below the 50 day which is at ~US$233.
The Bitcoin price continues its long steady decline. Last week we said: “Bitcoin price has continued experiencing downside pressure and as of this writing the price looks headed for a retest of the 200 area. Last week’s recap: If US$240 doesn’t hold, the US$220 area could provide minor support, but U$200 would more likely be an area to watch for bigger support. If it fails to hold, a retest of the lows (US$165-180) will certainly be the next area to watch […].” The price proceeded downward as we stated to reach US$210 before it rallied back up above minor support at US$220. As of this....
After the market crash that sent the Bitcoin price falling toward $100,000, the XRP price also saw a notable decline, and this crash has brought it toward an important level. While the digital asset continues to hold above the $2.1 level, it remains critical support and a break below this could be negative for the price. This is outlined by crypto analyst The Alchemist Trader, who has shown what direction the XRP price could be headed in depending on what happens here. XRP Price Threatens Major Support Level After the almost 4.5% decline that ravaged the XRP price over the last week, it....