XRP Has To Move Above This Critical Line To Avoid A Further Price Drop

The crypto market is filled with red again, and Ripple’s coin XRP is no exception.

Ripple and XRP had a great year with various achievements, which include great partnerships and increased adoption, but one thing has been missing.

XRP army of fans was waiting all year to see all these achievementns, mirrored in the coin’s price, but this failed to happen, and XRP’s price has been lagging all 2019.

XRP is reportedly in the danger zone

There’s an important crypto analyst who said that XRP is in the danger zone.

TraderSZ told his 39,700 followers on Twitter that XRP needs to rise above a critical mid-range level to avoid a further 38% breakdown.

The analyst draws that line at $0.2669 – this is an area of support and resistance dating back to 2017.

“As long as we hold below mid-range, expecting XRP/USD to drop towards $0.135 next.”

A bearish vision over the whole crypto market

The analyst is not only picking on XRP, he has a bearish vision on the crypto market overall.

It’s been also revealed that in the near-term the trader is short BTC and he’s expecting that the most important coin in the market drops below $7,300, then $6,900, and then $6,600.

Regarding when BTC hits a bottom, the analyst said that this would be around $6,000.

Josh Rager calls $6,000 a bottom for BTC

It’s also worth noting that Josh Rager is on the very same page with the analyst above.

His technical analysis claims that the $6,000 level is a target for BTC.

Right now, he’s looking to see if support holds at $7,150, according to the latest reports coming from the Daily Hodl.

“As long as $7150 holds, this will be a key area because it’s the point of controls, the area with the most volume traded in this range. But let’s not kid ourselves, $6ks are coming again sooner or later. Prep your emotions, we’ll get through this like always.”

At the moment of writing this article, BTC and XRP are both trading in the red. BTC is priced at $7,193.07 and XRP is trading at $0.212856.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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