XRP is moving further and further away from the $ 1 mark and you should stay away from this altcoin as well
XRP hasn’t been very good lately. In addition to the developments in the ongoing SEC Ripple process, the market conditions for Altcoins are not positive either.
As previously forecast, XRP’s chances of hitting $ 1 are bleak.
XRP is getting further and further away from $ 1
14 days ago, XRP rose 23.61% over a 5 day period. Since then, the altcoin has fallen into the hands of bears and is currently down 23.22%, trading at $ 0.74.
The falling price not only invalidated all gains, it also turned the long-term support at $ 0.77 into resistance.
The last time XRP saw such an event, the price kept the price below that level for the next 47 days. If this pattern repeats itself again, be prepared for XRP to drop below $ 0.77 by February 24th.
XRP price promotion | Source: TradingView
XRP is supported at $ 0.71, which is very close to the current trading price. If this level is lost, the altcoin will slide to $ 0.51.
And it seems that some investors have hedged themselves by taking profits in early December and then exiting at the first sign of losses in early 2022.
LTH sells XRP | Source: Antiment
This situation stopped and the Hodler returned to HODL as the coin speed decreased.
XRP speed | Source: Antiment
In addition, the macro slowdown also significantly slows the growth rate of the network.
Growth of the XRP network | Source: Antiment
Going forward, XRP will rely on broader market signals or external uptrends to prevent catastrophic losses for investors. Also, it’s best to stay away from this altcoin for now.
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XRP is moving further and further away from the $ 1 mark and you should stay away from this altcoin as well
XRP hasn’t been very good lately. In addition to the developments in the ongoing SEC Ripple process, the market conditions for Altcoins are not positive either.
As previously forecast, XRP’s chances of hitting $ 1 are bleak.
XRP is getting further and further away from $ 1
14 days ago, XRP rose 23.61% over a 5 day period. Since then, the altcoin has fallen into the hands of bears and is currently down 23.22%, trading at $ 0.74.
The falling price not only invalidated all gains, it also turned the long-term support at $ 0.77 into resistance.
The last time XRP saw such an event, the price kept the price below that level for the next 47 days. If this pattern repeats itself again, be prepared for XRP to drop below $ 0.77 by February 24th.
XRP price promotion | Source: TradingView
XRP is supported at $ 0.71, which is very close to the current trading price. If this level is lost, the altcoin will slide to $ 0.51.
And it seems that some investors have hedged themselves by taking profits in early December and then exiting at the first sign of losses in early 2022.
LTH sells XRP | Source: Antiment
This situation stopped and the Hodler returned to HODL as the coin speed decreased.
XRP speed | Source: Antiment
In addition, the macro slowdown also significantly slows the growth rate of the network.
Growth of the XRP network | Source: Antiment
Going forward, XRP will rely on broader market signals or external uptrends to prevent catastrophic losses for investors. Also, it’s best to stay away from this altcoin for now.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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