XRP Price Chart Signals Trouble – Is A Drop To $1.20 Possible?
The price of XRP has recorded a significant downtrend in the last 24 hours, declining by almost 5% according to data from CoinMarketCap. Amidst this price fall, renowned market analyst Ali Martinez has stated there is a strong bearish pattern forming on the XRP price chart signaling further price drops ahead. Related Reading: XRP Could Start An Explosive Move To $33 Within 28 Days, Says Analyst XRP Faces Bearish Breakdown As Head-And-Shoulders Pattern Emerges Over the last week, XRP investors have witnessed both sides of the crypto market volatility after a spontaneous 30% surge to $3.00....
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Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020. Related Reading:....
Bitcoin price is having trouble breaking past this area of interest visible on the daily time frame as technical indicators are giving mixed signals. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation on its short-term time frames and looking at the daily chart shows why. Price is actually stalling below a former support zone around the $600-620 area, which might continue to hold as resistance. Price is also encountering a bit of a ceiling around its 100 SMA on the longer-term chart. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this....
Bitcoin price might be in for a larger drop based on the short-term reversal formation but technical indicators are giving a different signal. Bitcoin Price Key Highlights. Bitcoin price seems to be having trouble sustaining its climb, as it started forming lower highs so far this week. A head and shoulders pattern seems to be forming, indicating a potential reversal if price breaks below the neckline around $570. If that happens, bitcoin price could drop to the next visible support around $540. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance....
Bitcoin price is encountering a lot of roadblocks on its move up north for now so bears might take advantage and push for a drop. Bitcoin Price Key Highlights. Bitcoin price is still moving inside its ascending channel pattern on the 1-hour chart but bears seem to be pushing for a downside break. Price has been hovering too close to the channel support for quite some time, which means that bulls are having trouble sustaining the climb. A break below the channel support could mark the start of a selloff until the next lows at $700-750. Technical Indicators Signals. The 100 SMA has just....