The price of XRP has a very declining plan and is at risk of a strong declining collapse, which can see it up to $ 1 in the near term. Moreover, a famous encryption analyst warned that the Bitcoin Bull cycle has ended, which may harm Altcoins like Ripple. So, what should you do if a ripple price decreases less than one dollar?
XRP price can be disrupted to $ 1 soon
Ki Young Ju, founder of Cryptoquant, and the famous encryption analyst, warned that the Bitco Bull market has ended. He warned that all the standards on the series were referring to the bear market as drought continued in liquidity.
Such a decrease, along with the morale of fear in the market, means that the prices of bitcoin and XRP may be about to the downside. He said:
“I have been calling for an emerging market over the past two years, even when the indicators have been border. Sorry to change my view, but it seems clear now that we are entering the bear market. “
Meanwhile, the daily chart below shows that the price of XRP is a rare decline known as The head and shoulders. This pattern is formed when the original is in a bullish direction and is a sign of a declining reflection.
In the case of XRP, the head is at its highest level, while the number of shoulders is $ 3 and the neckline is about $ 2. In this case, a declining collapse will be confirmed if the currency decreases below the neck line at $ 2.
The decline without support at two dollars will indicate more declines to the next psychological point at one dollar. This price also coincides with the 78.6 % Fibonacci level. This will be the collapse of 55 % of the current level.
What do you do if the price decreases less than one dollar
One of the best methods for dealing with the XRP price collapse is the average cost of the dollar (DCA). DCA is an approach where the investor originally buys in small quantities during his landmark.
The main reason for this is to buy more symbols over time, and may benefit from them when the price bounces.
In the case of XRP, there are signs that the price will bounce over time, with the help of many stimuli. There are some bullish stimuli that will pay the price of XRP higher in the long run.
odds SEC Approval of XRP ETF He continued to rise after Donald Trump’s victory in the presidency in November. The immediate ETF is likely to lead to more flows and boost the price.
SEC has already completed lawsuits against other companies in the encryption industry such as Coinbase, Gemini and Kraken. As such, there is a possibility that the agency will end Tamulization suit Later this year.
Ending the lawsuit will be positive for the XRP price because it will allow Ripple to deal with others Companies, link banksand And money transfer companies.
The XRP price can also benefit from the potential operation of Crypto Bull caused by interest -in -federal reserves and the end of quantitative tightening.
Related questions (common questions)
The XRP price is at risk of declining to less than one dollar because it formed a head and shoulders on the daily chart.
The best way to cost the dollar is known, as one buys codes with low prices. One benefits when the price bounces over time.
XRP potential stimuli is the approval of the SEC XRP ETF, reducing interest rates in the field of federal reserves, and the growth of the ecosystem.
Crespos
CRISPUS is an experienced financial analyst in CoingApe with over 12 years of experience. It focuses on Bitcoin and other altcoins, which covers the intersection of news and analysis. His visions were shown on famous platforms such as banklestimes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and MoneytransFers.com.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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