📉 ALERT $XRP ! ⚠️ RISK of DROP of 45% UNTIL $1.20! 😱
WORRYING SIGNALS for #xrp ! 🚨 A BEARISH TECHNICAL PATTERN of DESCENDING TRIANGLE is forming on the daily chart, suggesting a POSSIBLE DROP of 45% until $1.20! 📉
BULLS are struggling to keep $XRP above the SIMPLE MOVING AVERAGE (SMA) of 50 days at $2.18! 🐻 If this trend continues, a CLOSE below the 50 and 100-day SMAs could TRIGGER a collapse towards the PSYCHOLOGICAL SUPPORT of $2.00! 💥 If this support FAILS, the BEARISH TARGET is around $1.20 by the end of May! 🗓️
ACTIVITY on the XRP Ledger has DRAMATICALLY DECREASED in the last two months! 📉 DAILY ACTIVE ADDRESSES (DAAs) are WELL below their March peak, suggesting REDUCED INTEREST and a lack of CONFIDENCE in XRP's short-term prospects. 😟 Historically, the DECREASE in network activity usually precedes a STAGNATION or DROP in prices. 💀
Do you think XRP will break the support of the descending triangle and head towards $1.20? What factors could invalidate this bearish pattern and lead to a rebound towards $3.00?
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