The price of XRP has decreased to less than the decisive support level, which risk more negative aspect as the Steam encryption breaks down. He decreased to the lowest level in $ 1.7020 on Monday morning, its lowest level since November last year. It has decreased by more than 50 % of its highest point this year, erasing billions of dollars.
Prediction at XRP: Technical Analysis
The daily graph shows that the price of Ripple is at the risk of more negative aspect in the coming days. This is because the distinctive symbol has now decreased to less than two levels of decisive support $ 1.9522 and $ 1.80. The initial support level was the neck line for the head and the shoulders, whose head and shoulders were at $ 3.4 and $ 3. The H&S style is one of the most popular biopsy on the market.
XRP also moved to less than the main point at $ 1.80, the lowest swing on February 3 this year. This price was a false outbreak and the lowest point this year.
Now, the Ripple price formed an intersecting pattern of death as the average average movement formed for 50 days and 200 days (WMA) formed a cross -death pattern. This is one of the most popular bodies in the market. The last time the XRP price formed a death, the price fell by more than 50 %.
The price of XRP also decreased down the weak and suspended Murrey Murry Point tool. Also, the RSI and MACD indicators continued, while the average trend index (ADX) referred to the top, a sign that the declining direction is accelerating.
Therefore, the XRP currency is likely to continue to decrease as sellers target the next main support at $ 1.1162. This is a decisive goal because it is a little higher than the level of Fibonacci 78.6 %. Also, the distance between the head and the neck line is about 42 %.
Measure the same distance from the neck line leads you to the target at $ 1.1162. XRP goal is also located along the extreme level of Murrey Math lines.
Why the ripple price collapses
There are some reasons behind the XRP price collapse. First, the currency is disrupted with a decrease in the index of fear and greed, a sign that investors fear a potential stagnation if the ongoing trade war is accelerating.
This fear surpassed the optimism surrounding XRP and ripples after several important news. For example, SEC ended a ripples That was present for a few years. Ending this situation means that Ripple is now largely free to conclude deals with companies such as banks and money transfer companies in the United States of America.
Ripple Labs seeks to become a major player in the border payment manufacturer by being a Swift alternative, a network that treats more than 150 trillion dollars a year.
There is also optimism that the Securities and Stock Exchange Committee (SEC) will agree to Spot XRP ETF. ETFS can give investment companies from dealing with XRP purchase keys and displaying the distinctive symbol.
There is a great risk about this is the increasing concern that investors do not care about Altcoin ATFS. This is because although Bitcoin’s investment funds have accumulated more than $ 35 billion of assets, those who are associated with Ethereum added only two billion dollars.
However, on the positive side, there is a possibility that the XRP accident will soon be abandoned if Donald Trump matters and finishes its definition and if the federal reserve interferes in the market.
Post XRP Prediction: The next Ripple goal after losing the main support first appeared on Invezz
