320 WYATT
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Bearish
$XRP
📊 XRP Price Could Crash to $1 Soon 📊
Ki Young Ju, the founder of CryptoQuant, and a popular crypto analyst, has warned that the Bitcoin bull market is over. He warned that all on-chain metrics were signaling a bear market as liquidity continues to dry up.
Such a drop, coupled with the fear sentiment in the market, means that Bitcoin and XRP prices may be on the verge of more downside. He said:
“I’ve been calling for a bull market over the past two years, even when indicators were borderline. Sorry to change my view, but it now looks pretty clear that we’re entering a bear market.”
Meanwhile, the daily chart below shows that the XRP price is forming a rare bearish pattern known as head and shoulders. This pattern forms when an asset is in an uptrend and is a sign of a bearish reversal.
In XRP’s case, the head is at the year-to-date high, while the shoulders are at $3 and the neckline is at around $2. In this case, a bearish breakdown will be confirmed if the coin drops below the neckline at $2.
A drop below the support at $2 will point to further declines to the next psychological point at $1. This price also coincides with the 78.6% Fibonacci Retracement level. That would be a 55% crash from the current level.
#xrp #Binance #USTariffs #Write2Earn #BNBChainMeme
📊 XRP Price Could Crash to $1 Soon 📊
Ki Young Ju, the founder of CryptoQuant, and a popular crypto analyst, has warned that the Bitcoin bull market is over. He warned that all on-chain metrics were signaling a bear market as liquidity continues to dry up.
Such a drop, coupled with the fear sentiment in the market, means that Bitcoin and XRP prices may be on the verge of more downside. He said:
“I’ve been calling for a bull market over the past two years, even when indicators were borderline. Sorry to change my view, but it now looks pretty clear that we’re entering a bear market.”
Meanwhile, the daily chart below shows that the XRP price is forming a rare bearish pattern known as head and shoulders. This pattern forms when an asset is in an uptrend and is a sign of a bearish reversal.
In XRP’s case, the head is at the year-to-date high, while the shoulders are at $3 and the neckline is at around $2. In this case, a bearish breakdown will be confirmed if the coin drops below the neckline at $2.
A drop below the support at $2 will point to further declines to the next psychological point at $1. This price also coincides with the 78.6% Fibonacci Retracement level. That would be a 55% crash from the current level.
#xrp #Binance #USTariffs #Write2Earn #BNBChainMeme
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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