Analyst Reveals Next Major Support
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Crypto Analyst Madwhale The possibility of XRP price has been raised below the critical $2 support level. Analysts also revealed that if XRP drops below this support level, the next major support is next.
XRP price may drop to $1.90 if you lose $2 in support
exist TradingView PostsMadwhale predicts that if the XRP price loses the $2 level, the XRP price may fall at $1.90. He pointed out that XRP shows classic Three layers formedeach successive peak shows weak momentum. In line with this, analysts assert that due to XRP approaching a strong resistance zone, fractures below 42 thresholds appear to be on the horizon.
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Madwhale further noted that the decline is expected to be extended to at least $1.9, a 18% drop. Such price declines are consistent with the main target and key daily support levels, analysts added. Crypto analyst Ali Martinez It is also recommended that if XRP loses $2 support, XRP may drop to $1.2.
The analyst revealed that XRP prices form a head and stock model on the weekly chart, which makes the $2 support level a focus. The chart he accompanied shows that if the cryptocurrency is discounted below $2, the cryptocurrency could drop to $1.2. However, despite the bearish outlook, other crypto analysts, e.g. Egrag encryptionhighlighting some positive aspects of XRP price.
Egrag Crypto said the dominance of XRP prices showed great strength and predicted that if it successfully shut down Fib 0.5, it would soon rise to the FIB 0.888 level. Crypto analyst Dark Defender predicts that XRP can lift it to a new all-time high (ATH) if it continues to keep key support levels at $2.04 and $2.22.
AltCoin is still in waiting mode
Crypto Analyst Casitrades Point out that the XRP is solid but is still in wait mode. She added that the bullish structure remains intact while the alternative tokens are held above $2.26, which is a key .382 retracement support. Analysts noted that the price of XRP took some time to merge to support it, which shows that the market is preparing for the next move.
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The crypto analyst revealed resistance levels at $2.70 and $3.05 and received support levels at $2.25 as key levels. She noted that XRP prices need to be flipped $2.70 and $3.05 to be a confirmation support Next wave. Meanwhile, Casitrades recommends that if the XRP risk drops to $1.54, it loses lower support support at $1.90.
The crypto analyst also mentioned that the price needs to break $3.40 on its current ATH to confirm the new trend. Before that, signs of waiting for confirmation continued, which she claimed may not be obvious until the third wave of the market cycle. Casitrades asserts that the critical FIB level has been violated and the market is on the verge of breaking through.
At the time of writing, the XRP price is trading at about $2.29, down more than 2% in the past 24 hours. data From CoinMarketCap.
Featured images from Medium, charts from TradingView.com
