XRP holders are at an intersection, because recent market trends raise questions about the future of the cryptocurrency. After a strong bullish run, XRP hit a rough patch, with technical indicators that suggest that the possibility of further decreasing. But what is the next step for the price of XRP, and how low can it go?
An analyst oriented When moving the Average Convergence Divergency (MACD) and revealed that XRP experienced what is known as a “Death Cross”-a bearish indicator where the advancing average of the short term dives below the progressive average. This usually means that the start of a falling trend, and the price of XRP responded accordingly and 37% has fallen since the signal, with the current dip being around 31%.
This is not the first time that XRP has to do with such a critical moment. In February 2018, after a similar death cross, the price of XRP fell due to a stunning 90%and dragged it from more than $ 3 to less than $ 0.30.
Source: Stephisrypto
In May 2021 the currency dropped 53% after another bearish crossover, and in November of the same year he saw another 76% decrease. These patterns suggest that death crosses are not only volatile signals – they often mark the start of long -term bearish phases.
So where does that XRP now leave behind?
If history repeats itself, XRP could experience a new drop. A decrease of 53% compared to the current price would fall to around $ 1.40. If the recession reflects the severity of the fall from 2021, we can look at a price of around $ 0.71. In the worst-case scenario, if XRP follows the process of the 2018 crash, the price could fall below $ 0.30.
However, it is not all downfall and gloom. If XRP applies above important support levels such as $ 2, this can prevent a deeper decline. But if that level breaks, the following support can be much lower, which may open the door for the worst scenario.
Many experts believe that XRP is approaching a soil, supported by strong whale accumulation and signs that the market may have exaggerated exaggerated to recent price movements. The question remains: will XRP bounce back as it has in the past, or is this the start of a deeper correction? The answer lies in how the market will respond in the coming weeks.
