The post XRP Price is Due For Massive Correction, Analyst Maps the Low Levels appeared first on Coinpedia Fintech News
Ali Martinez a crypto analyst cautioned that the price of XRP is about to fall to $0.42 or $0.39. In a recent tweet.
It’s important to note that the XRP coin experienced a significant bounce over the weekend, separating from the rest of the cryptocurrency market and posting gains of 70% in just 30 days. Notably, the asset’s price was over the $0.52 mark.
In recent weeks, XRP has been experiencing a positive sentiment with bulls in charge of the market. It’s important to note that on Thursday bears took control of the market, just before the price started to rise, the network experienced its fastest 24-hour growth since July 2 with the creation of about 3,000 new addresses.
Profit Blue, a well-known cryptocurrency trader, also presented a comparable study today. The token, according to the analyst, was on the verge of breaking a crucial 4-hour trend line and might be moving toward the neckline of a recently formed double-top pattern. It is important to note that this neckline costs somewhere between $0.42 and $0.44.
The supporters of XRP continue to hold out hope that Ripple will prevail in its legal dispute with the US Securities and Exchange Commission, which might result in the token’s return to trading on US cryptocurrency platforms. Holders are also thrilled since Flare Network is getting ready to give prizes to XRP holders.
XRP is now trading at $0.481 as of this writing. It reached a low of $0.4809 and a high of $0.528 over the course of the last 24 hours. The market capitalization is $48,145,318,163.49.96B, while the trade volume is $2,446,140,865. There are XRP coins in circulation.