XRP holders find themselves at a crossroads where modern market trends raise questions about the future of the cryptocurrency in the short term. After a strong bullish running, XRP achieved an approximate correction, as technical indicators indicate more declines. But what is the next for the XRP price, and how can it decrease?
Focus analyst In the average divergence of the medium rapprochement (MACD) and revealed that XRP witnessed what is known as the “death cross”-a declining index as the average average medium-term decreased without the long-term moving average. This usually means the beginning of the declining direction, and the price of XRP responded accordingly, as it has decreased by 37 % since the reference, as the current increase is about 31 %.
This is not the first time that XRP has faced such a critical turn. Again in February 2018, after a similar death cross, the XRP price decreased by amazing 90 %, which led to its withdrawal from $ 3 to less than $ 0.30.
source: Stephisccrypto
In May 2021, the currency decreased by 53 % after another declining cross, and by November of the same year, another decreased by 76 %. These patterns indicate that the intersections of death are not just transient signals – they often serve as the beginning of the long phases.
So, where does that leave XRP now?
If history repeats itself, XRP may suffer from another significant decrease. A 53 % decrease from its current price will decrease to about $ 1.40. If the recession reflects the severity of the 2021 decrease, we may look for a price of about $ 0.71. In the worst scenario of cases, if XRP follows the 2018 crashing course, the price may decrease to less than $ 0.30.
However, not everything is death and depression. If XRP maintains more important support levels such as $ 2, it may prevent a deeper decrease. But if this level collapses, the next support may be much lower, which may open the door to the worst cases scenario.
Many experts believe that XRP is close to the bottom, with the support of the accumulation of strong whale and signs that the market may be exaggerated to modern price movements. The question remains: Will XRP return as it is in the past, or is this the beginning of a deeper correction? The answer is how the market interacts in the coming weeks.
