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XRP faces potential decline amid bearish signals
According to Cointelegraph, the price of XRP has experienced a significant decline of over 35% since reaching a multi-year high of $3.40 in January. The downtrend of the cryptocurrency may continue in April, as new bearish indicators emerge. A key technical pattern, known as the inverted cup and handle formation, is signaling a potential reversal. This pattern, which resembles an upside-down teacup, indicates a declining buying momentum after an upward trend. The 'cup' represents a rounded decline, while the 'handle' forms after a brief consolidation period. Typically, a break below the handle's support confirms this bearish pattern, often leading to a decline equal to the height of the cup.
XRP faces potential decline amid bearish signals
According to Cointelegraph, the price of XRP has experienced a significant decline of over 35% since reaching a multi-year high of $3.40 in January. The downtrend of the cryptocurrency may continue in April, as new bearish indicators emerge. A key technical pattern, known as the inverted cup and handle formation, is signaling a potential reversal. This pattern, which resembles an upside-down teacup, indicates a declining buying momentum after an upward trend. The 'cup' represents a rounded decline, while the 'handle' forms after a brief consolidation period. Typically, a break below the handle's support confirms this bearish pattern, often leading to a decline equal to the height of the cup.
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