XRP price rally stalls near key level that last time triggered a 65% crash
Macro risks and a long-term bearish setup continue to spoil XRP's bullish prospects. XRP's ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash.XRP price rebounds 30% XRP's price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021. The token's retracement rally could extend to $0.41 next, according to its "cup-and-handle" pattern shown in the chart below.XRP/USD four-hour price chart featuring "cup and handle" pattern. Source:....
Related News
The price of XRP soared to as high as $0.92 in mere minutes on Coinbase only to crash by 30% immediately after. XRP price spiked to over $0.90 on U.S. cryptocurrency exchange Coinbase on Nov. 24 only to crash back down by roughly 30% in seconds. This was the highest price level since May 2018.XRP frenzy driven by Coinbase usersThe rally was apparently driven by Coinbase users as the price of XRP did not see the same heights on other exchanges. Bitstamp and Binance, for example, saw a high of only $0.79 during the same spike. Shortly after the crash, hashtag "Coinbase" began trending on....
Ethereum has seen a monumental rally throughout the past couple of days, with bulls taking full control over its price action This has come as BTC remains relatively stable in the upper-$30,000 region, with its stability giving altcoins the chance to rally ETH has yet to set fresh all-time highs despite its recent gains, but […]
Bitcoin reached $19,000 quickly after it plunged to $18,000 following an XRP flash crash on Coinbase. The price of Bitcoin (BTC) surpassed $19,000 on Nov. 24 for the first time in nearly three years. It followed an XRP flash crash on Coinbase, which trembled the crypto market.The two incidents could be entirely coincidental. Although considering that BTC price surged almost immediately after the XRP drop, there could be a correlation.BTC/USDT 4-hour chart (Binance). Source: TradingView.comHow XRP’s price rally could have triggered Bitcoin to new highsAs Cointelegraph reported on Nov. 24,....
Data shows the Bitcoin rally above the $28,400 level has triggered $110 million in liquidations across the cryptocurrency futures market. Bitcoin Rally Leads To Mass Liquidation Event In Futures Market During the past day or so, Bitcoin has rapidly increased, as its price has gone from the $27,000 mark to above the $28,000 level. This […]
The Bitcoin price has been in decline for almost 10 months. The protracted decline had crashed in stages, accompanied by various news events and pivoting around the $500 price level and crossing over it several times during the past year. Analysis below discusses the reasons for the decline, as well as the factors that are popularly believed to have caused the successive price crashes. Future scenarios are considered, including Bitcoin price forecasts. Blame It On China. Consensus has it that warnings and restrictions issued by authorities in China, on 5 December 2013, had caused (or....