XRP, the price has dropped over 70%! That is a very sharp drop, even sharper considering the whole market is in a strong uptrend and soon XRP can placed fifth or even sixth in the overall market cap as Litecoin and Polkadot are catching up quickly.
As XRP is being delisted from US Cryptocurrency exchanges such as Coinbase, US Binance, Bitstamp and many more, the price is still expected to extended losses based on this negative fundamental outlook based off the SEC lawsuit.
For the full list, check this article on Yahoo Finance.
finance.yahoo.com/ne...tings-061128103.html
Fundamentals are bad, but how about technicals?
Considering the price has seen a very strong sell off, the technical aspect of XRP also doesn’t look the best, but let’s take a closer look at them.
Currently XRP is in a insignificant uptrend, which is more a correction than a buying wave.
The price is closest to a Bear flag bearish pattern, which outcome is bearish.
Indicators.
Same as XLM, the RSI is in a weak uptrend but with an exception that the RSI is below 40, which is very bearish considering this is a daily time frame.
MACD is currently on the second strong selling wave, but another one is expected to be seen shortly.
EMA levels of 20 and 50 are pointing towards an downtrend, but a retest of 20 EMA is expected before any further move to the downside or upside.
I expect the price to drop below $0.17
As XRP is being delisted from US Cryptocurrency exchanges such as Coinbase, US Binance, Bitstamp and many more, the price is still expected to extended losses based on this negative fundamental outlook based off the SEC lawsuit.
For the full list, check this article on Yahoo Finance.
finance.yahoo.com/ne...tings-061128103.html
Fundamentals are bad, but how about technicals?
Considering the price has seen a very strong sell off, the technical aspect of XRP also doesn’t look the best, but let’s take a closer look at them.
Currently XRP is in a insignificant uptrend, which is more a correction than a buying wave.
The price is closest to a Bear flag bearish pattern, which outcome is bearish.
Indicators.
Same as XLM, the RSI is in a weak uptrend but with an exception that the RSI is below 40, which is very bearish considering this is a daily time frame.
MACD is currently on the second strong selling wave, but another one is expected to be seen shortly.
EMA levels of 20 and 50 are pointing towards an downtrend, but a retest of 20 EMA is expected before any further move to the downside or upside.
I expect the price to drop below $0.17
