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