XRP price fell as low as $ 0.48.
Although the leading cryptocurrency Bitcoin (BTC) has managed to recover after falling to $ 17,600, this is not the case for XRP. One of the most important steps was taken for the airdrop that everyone was waiting for on December 12, and the balances of the XRP investors' wallets were recorded. While XRP price has been rising with this development for almost 1 month, it entered a sharp downtrend after December 12th.
XRP Price Continues to Decline
While the FLR airdrop event is expected to have a major trigger for the XRP price , the fact that this effect was only until December 12, actually surprised investors. Thor Chan, CEO of AAX crypto money exchange, stated in his current interview that the XRP and Flare partnership is not just a simple airdrop program.
The famous CEO stated that there will be more cooperation between the XRP Ledger and the Flare Network and significant developments will come to the XRP network. Stating that the integration of the XRP Ledger with the Flare Network could bring an increase to $ 0.90 for XRP, although the price fell sharply, the CEO stated that the Bitcoin price should also increase for this.
Below $ 0.50 Seen
XRP price, on the other hand, fell to $ 0.50 after the airdrop and lost its support of $ 0.50 as of today. The XRP / USD pair is heading towards $ 0.48 on the 4-hour chart, which could result in a consolidation between $ 0.30 and $ 0.40 for XRP again. Although the RSI indicator shows that the bearish effect will continue for now, it is still not in the overbought territory.
The RSI indicator entering the oversold zone could actually be a positive development for investors. However, the fact that over-selling is still not seen indicates that the XRP price can be lowered a little further with the selling pressure. XRP price could retreat as low as $ 0.45 according to the chart above. If there is no support here, the next point will be $ 0.38.
Critical Levels for XRP
The XRP / USD pair had tested exactly 7 times before to break $ 0.38. It is known that the situation is different in the downs and the XRP price can drop very sharply at a time. The main reason for this is the selling pressure and the panic and the investors contributing to this selling pressure.
Despite all this, the XRP price has a chance to return from $ 0.48 and use the support here in its favor.
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