XRP May Drop to $0.47828 in the Short-Term, According to Analyst

Coin Edition
Coin Edition

18 Sep 2023 11:40 AM

An analyst from Cheeky Crypto predicted that XRP’s price may fall further in the coming few weeks. Read more on CE....

  • An analyst from Cheeky Crypto predicts that XRP's price may drop to between $0.47828 and $0.48303 soon.
  • The analyst warns that XRP could drop to $0.30-$0.3039 as a death cross may occur in the coming week.
  • XRP's price is currently at $0.4933 after a 0.552% drop.
  • The analyst believes XRP's price may continue to fall in the coming weeks, with a downside target of $0.47828-$0.48303.
  • The 50-day SMA line is attempting to cross below the 200-day EMA line, potentially triggering a death cross and further bearish movement.
  • If the bearish thesis is validated, XRP's price may drop to $0.3517-$0.3927 before bouncing and then moving down to $0.30-$0.3039.
  • The analyst predicts that XRP may eventually soar to $0.66-$0.70, but it may take a few months to reach this range.
  • XRP rising above $0.675 will invalidate the bearish thesis.
  • Low trading volumes for XRP add credence to the bearish thesis.
  • At press time, XRP's price is $0.4933 with a 24-hour loss of 0.52% and a 1.89% gain over the past 7 days.

The overall sentiment of the article is bearish, as the analyst predicts a potential drop in XRP's price and warns about a death cross.

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You May Ask

What is the predicted price range for XRP according to the analyst from Cheeky Crypto?What is a death cross and how can it impact XRP's price?What is the potential downside target for XRP's price if the bearish thesis is validated?How long might it take for XRP's price to reach the predicted range of $0.66-$0.70?What factor adds credence to the bearish thesis for XRP?

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