XRP Price Flashes Bearish Death Cross, How Low Can It Go? | Bitcoinist.com
Bitcoinist
18 Sep 2023 11:00 PM
Death crosses appearing in the chart of any digital asset can be bad and the XRP price is no different in this regard....
- XRP price is facing a potential drop as a death cross forms on its chart.
- The analyst suggests a three-way pattern that could lead to a bounce to $0.51 before a downward spiral towards $0.48.
- The Elliot Wave formation points towards a potential decline to $0.35, representing a 28% drop.
- However, if Bitcoin continues to move upward, it could invalidate the death cross and potentially lead to XRP following suit.
- XRP is currently the third-best performer among the top 10 cryptocurrencies by market cap on the weekly chart.
The article provides a mixed sentiment, discussing both potential negative outcomes (death cross, price decline) and positive possibilities (bounce, Bitcoin correlation).
You May Ask
What is a death cross and how does it affect the price of digital assets?What are the key support and resistance levels for XRP?What is the potential price target if the three-way pattern leads to a bounce?How does the correlation between XRP and Bitcoin impact its price movement?How does XRP's performance compare to other top cryptocurrencies on the weekly chart?