Analysts believe XRP will continue to decline
The market for aggregated cryptocurrencies has been firmly moving sideways in recent days, following the recent market upturn earlier this week that allowed XRP and other altcoins to gain some momentum.
It now appears that XRP may be able to see a significantly further downtrend in the near future, despite the bulls' ability to position above the main support at $ 0, 15 again.
XRP declines from multi-year lows due to consolidation
At the time of writing, XRP becomes a rate of 0, 152 Dollar traded, which is a remarkable drop from daily highs of over 0, 16 means dollar.
Earlier this week cryptos were able to achieve remarkable upward momentum, with Bitcoin rising to a high of 6. 900 $ went hand in hand. This led to a recovery to 0, 17 $, which roughly corresponds to the point at which Ripple lost momentum and returned to the current price level.
This recent upswing marked an extension of the swing that first occurred when XRP hit lows of 0, 09 dollar fell, where XRP found significant support that allowed it to achieve a decent upswing.
“If you just look at the $ XRP chart. I didn't notice it hit nearly 3 year lows, ”Josh Olszewicz, a prominent cryptocurrency analyst on Twitter, said in a recent tweet.
just now looking at the $ XRP chart
didnt realize it hit almost 3 yr lows
damn pic.twitter.com/aHZVRTn05 m
– Josh Olszewicz (@CarpeNoctom) March 22, 2020
Another popular crypto analyst on Twitter – found that he expects XRP to see another massive decline in the near future compared to his Bitcoin trading pair, the XRP by up to 30% crashes.
Expecting another 30% drop on $ XRP
2500 sats support holding strong but bulls are going to throw in the towel eventually… pic.twitter.com/9M9I2ZGpyh
– Livercoin (@livercoin) March 22, 2020
If you look at the chart highlighted above, it appears that XRP will move from its current BTC price of 0 in the coming days and weeks, 0000255 to 0, 00001778 could fall.
Proof of text: newsbtc
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