Recently, the crypto currency market is faced with a serious sales pressure. Spot Bitcoin $86,724.40 Billions of dollars of funds from their ETFs created insecurity in the market. Bitcoin fell below 80 thousand dollars, while the Altcoin market was affected by this decline. XRP fell over 10 percent and approached critical support levels. Alright, XRP price What direction will he move forward in the coming days?
XRP approaches critical support levels
XRPhas lost the important support zone between 2.25 and $ 2,30 in the last 24 hours. This level had led the price to recover many times before. However, this time the price closed below this support and the sales pressure continues to increase.
$[mcrypto coin=”XRP” currency=”USD”] Xrp comments analysisAnalyst Josh of Crypto WorldAccording to the $ 2 level, a critical threshold for XRP. If the price falls below $ 2, even to $ 1.95 – $ 1.90, the probability of the decline may increase. In this case, Altcoin seems to be likely to test the lower support areas.
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Can the price decline continue?
XRP is currently in a clear downward trend. The price movement that progresses by creating further falling hills and falling bottoms does not give much positive signals for bulls. The loss of support levels and the withdrawal from the resistance points indicate that the downward trend continues.
Bitcoin and the general market trend continues to be effective on the XRP price. Large outlets from Bitcoin ETFs show the concerns of corporate investors about the future of the market. Even giant fund managers like Blackrock sell Bitcoin at record levels. This is XRP and other altcoin‘s is also under pressure.
The direction of the XRP price will depend on a large -scale Bitcoin and the general market feeling. If Bitcoin cannot recover, it may be inevitable that the XRP will go below $ 2.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
