4 XRP Warning Signs Flash: Is Ripple’s Price About to Tumble?
Main Idea
XRP's price surged to an all-time high of $3.65 before retracing to $3.3, with analysts highlighting key support levels and warning of potential corrections based on technical indicators and whale activity.
Key Points
1. XRP's price rose from around $2.2 to an all-time high of $3.65 before retracing to $3.3.
2. Analysts emphasize the importance of the $3 support level to maintain a bullish trend, with further supports at $2.8 and $2.5.
3. The TD Sequential metric suggests a potential steeper correction for XRP.
4. Whale activity included the disposal of over 700 million XRP tokens (worth $2.1 billion) in a single day.
Description
TL;DR Ripple’s native token fared relatively well during one phase of the ongoing market-wide correction, but has slipped further below the crucial resistance at $3. Although the asset has lost more than 20% of its value since its all-time high registered in mid-July already, there could be more pain on the horizon. Here are four signs supporting this narrative. Technical Indicators It was just a few weeks ago when XRP rode a massive wave that drove it from a range-still position of around $2.2 ...
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