Home CryptocurrencyAnalysis Urgent call to bulls as analysts predict dire correction ahead

Urgent call to bulls as analysts predict dire correction ahead

by SuperiorInvest

XRP is currently at a critical juncture, as noted by crypto analyst CoinsKid. The analyst has increase concerns about the immediate future of the altcoin and emphasizes the urgent need for bullish momentum to avoid a significant recession.

Bulls should intervene quickly

In the post shared on This warning follows a period of declining prices for XRP, which has seen the asset struggle to maintain its value.

The analyst explained: “It’s a bad time. TICK TOCK,” highlighting the urgency and nervous anticipation surrounding XRP’s price movement in the coming days.

This sentiment reflects a broader concern among XRP investors and market observers. The lack of bullish activity in the recent period has left XRP vulnerable to further losses, raising fears that it could fall to its lowest levels in months.

The possible drop to $0.38 would represent a loss in value and mark a new phase of uncertainty for the cryptocurrency. This comes as the broader crypto market is experiencing its own challenges, with several assets facing downward pressure.

XRP Price Action and Bearish Confirmation

The recent performance of the XRP market has been far from reassuring for its holders. Over the past week, the asset saw a drop of over 10% and so far, this bearish trend shows no signs of abating. The altcoin is trading below $0.53, a drop of almost 5% in the last 24 hours.

XRP price is moving sideways on the 1-hour chart. Source: XRP/USDT on TradingView.com

This downward trajectory is further corroborated by crypto analyst Ali, who has noted that if XRP breaks the $0.55 level, the altcoin could fall as low as $0.34. Such a drop would take the altcoin to a price not seen since April 2023, an alarming prospect for investors and the XRP community.

Despite this downturn, XRP’s daily trading volume has remained relatively stable, fluctuating between $1.4 billion and $1.2 billion over the past week. At the time of writing, Altcoin trading volume was around $1.28 billion.

Featured image from Unsplash, chart from Tradingview

Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC’s views on whether to buy, sell or hold investments, and investing naturally carries risks. It is recommended that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.

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