The cryptocurrency crash looks like it’s continuing to dip further. Prices of most tokens reached their respective support. However, Bitcoin and Ether both breached their strong support of $20,000 and $1,000 respectively. While other altcoins failed to follow yet, it might be a good time to reassess open positions. XRP specifically is lingering around the $0.30 price mark. Where will prices reach if this area is broken? In this XRP price prediction article, we analyze where will XRP price crash.
XRP Prices Crashed Hard – What happened?
XRP was consolidating along with the crypto market. However, when the market started to crash, XRP started its bearish trend directly. Prices went sideways between $0.38 and $0.42, but when Bitcoin broke its price of $30,000 lower, XRP also broke its support and went into a new sideways trend. The latter is delimited between a price of $0.30 and $0.34.
Some technical traders might be tempted to buy XRP at around $0.30 and sell back at higher prices. However, seeing that the entire crypto market is crashing, XRP prices are very risky, as they might crash suddenly due to whales dumping their tokens suddenly on the market. XRP was always known to be a lagger in the crypto market. Seeing that Bitcoin and Ether already moved lower, XRP is expected to follow.
XRP Price Prediction – Will XRP Crash to 20 cents?
Now that the market is crashing again lower, XRP prices are expected to follow this general bearish trend. If we look at the past price action of XRP, we can see that the area between $0.20 and $0.22 is where prices consolidated the most. As soon prices move below $0.30, XRP is most likely to reach this specific area and consolidate around 20 cents. Back in 2017, this is where prices consolidated the most before continuing on their uptrend.
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Source: https://cryptoticker.io/en/xrp-price-is-risky-sell-xrp-below-this-area/