מיט די קריפּטאָקוררענסי מאַרק going through a turbulent period this year, digital assets such as Ripple’s cross-border settlement token, XRP, has shown both unpredictable highs & lows. Recently, the price of XRP has been met with resistance at key places as the asset continues to be influenced by a variety of variables, ranging from legal considerations to the general tone of the market.
XRP Price To Fall Further?
According to crypto analyst Michael van de Poppe, the XRP token has run into significant resistance at the level of $0.37. He also mentioned that based on the recent price movement, the preferred option is to see the token reclaim the $0.343 level relatively quickly. He expressed these thoughts in a tweet on December 30.
לייענען מער: איז ינדיאַ מאָווינג צו פאַרבאָט קריפּטאָ אַסעץ אין זיין G20 פּרעזאַדאַנסי?
If the price however does not recover, Michael believes that there is likely a considerable amount of liquidity on the downside that might be taken advantage of. He also drew parallels between the current state of XRP and the recent performance of Bitcoin (BTC).
Additionally, he emphasized that investors should keep a close eye on the $0.265 level, as this is often regarded as a significant support level for XRP.
בעטן 01 - $ XRP
This one looks a bit odd, as we’ve seen a harsh rejection at $0.37.
I’d prefer to see $ XRP reclaim the level at $0.343 relatively fast, otherwise, a ton of liquidity is on the downside to be taken (comparable with # ביטקאָין).
$0.265 massive support. pic.twitter.com/wgYN5JLye1
- Michaël van de Poppe (@CryptoMichNL) דעצעמבער קסנומקס, קסנומקס
XRP Price Flashes Sell Signal
Echoing Michael’s thoughts, קריפּטאָקוררענסי trader Ali Martinez, who tweets under the handle @ali charts, is of the opinion that the price of XRP might see a pause in its surge due to certain technical signals. Martinez points out that the TD (Tom Denmark) Sequential, an instrumental tool designed to identify the exact time of trend exhaustion and price reversal, is indicating a strong “sell signal” on the price chart for XRP’s four-hour time frame.
עס איז וויכטיק צו טאָן אַז די altcoin has been trading in a stagnant range over the past few weeks. This is because investors have been unable to identify any bullish catalysts in the ongoing dispute between Ripple and the Securities and Exchange Commission (סעק). In addition to this, the asset is suffering as a direct result of the repercussions that were caused by the collapse of the FTX קריפּטאָ וועקסל.
דערווייַל, ווי פּער קאָונמאַרקעטקאַפּ, the price of XRP is trading at around $0.34, with a 0.78% increase in the past one hour and a whopping 2.56% decrease recorded in the last seven days, at the time of writing.
אויך לייענען: שיבאַ ינו (SHIB) פּרייַז צו פאַרגרעסערן נאָך דערגרייכן דעם נייַ מיילסטאָון?
די דערלאנגט אינהאַלט קען אַרייַננעמען די פערזענלעכע מיינונג פון די מחבר און איז אונטערטעניק צו די מאַרק צושטאַנד. טאָן דיין מאַרק פאָרשונג איידער ינוועסטינג אין קריפּטאָקוררענסי. דער מחבר אָדער די ויסגאַבע איז ניט פאַראַנטוואָרטלעך פֿאַר דיין פערזענלעכע פינאַנציעל אָנווער.
Source: https://coingape.com/ripple-xrp-price-danger-zone-crash-down-harder/