XRP has seen a serious breakout in recent weeks, surprising both its investors and the entire cryptocurrency community. Spark Airdrop was shown as the reason behind the pricing of the crypto currency, which ranks third. After taking a snapshot for the airdrop, XRP's serious decline proved this idea.
XRP was trading at $ 0.44 according to CoinMarketCap data at the time of writing . XRP has dropped 9% in the last 24 hours and 18.21% in the last 7 days. So what do analysts say about this situation?
Indigenous crypto currency analyst at Dr. Hardfork stated that XRP broke the supports and could fall to 0.24 after the 0.42 level.
Local analyst Siesta Laila shared a chart on his Twitter account and commented on the XRP:
"When you look at the XRP chart, you think it is even more unfair :) There is a reaction from the support, but if you have a weak entry, six stops of the support. If it can throw over 2600 resistance, it will allow those who hold it to breathe comfortably. "
Analyst Crypto Michael said, “Bitcoin is consolidating nicely, which gives altcoins some room to accelerate. Except for XRP. "It has dropped almost 50% since its highest level."
Another analyst Aayush Jindal stated that XRP started a steady decline below the $ 0.5000 and $ 0.4800 levels against the US dollar. XRP price is currently trading below $ 0.4750 and the 100 simple moving average (4-hour).
There is a major bearish channel formed with resistance near $ 0.5330 on the 4-hour chart of the XRP / USD pair (data source from Kraken). If there is a clear break below the $ 0.4350 level, the pair is likely to continue to decline.
Popular Analyst: "Don't Sell XRP Here"
Analyst Credible Crypto stated that XRP should not be sold in the current area, and made the following statement with a humorous language:
“If you sell XRP from here you will cry for the rest of your life and then you will cry in the afterlife and then you will be reborn as a baby and still cry. It will all be because you sell XRP here. Don't make yourself cry for the next three lives. Don't sell XRP here. "
Technician Hodja, one of the local traders, emphasized his confidence in the crypto currency and stated that he will continue to collect XRP at every opportunity for the long term.
Is There Any Potential For XRP Rising?
If XRP starts a good recovery wave above the $ 0.4650 resistance, the bulls could try to take control, according to analyst Jindal. A clear break above the $ 0.4650 and $ 0.4720 levels could start a good recovery. The price must rise above the $ 0.5000 level to move into a positive zone. A close above $ 0.5000 will likely pump the price towards the $ 0.5500 level.
