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Expert Shares Target as XRP Loses Breakout Level
With XRP flirting with lower prices, a prominent market analyst has identified an imminent bearish target should current momentum continue.
XRP is looking pretty weak, as prices continue to consolidate in reflection of the broader market trend. The cryptocurrency is down slightly over the past 24 hours, with a weekly correction of 11%
However, XRP has managed to remain profitable to those who bought at the start of the year, with a 2.58% YTD increase. Notably, only XRP, BNB, and Tron are profitable to holders in this timeframe among the top 10 by market cap, as the recent correction has led most assets to relinquish earlier gains.
Further XRP Lows?
An accompanying chart lays the foundation for this bearish XRP price prediction. It shows that XRP missed a bullish breakout from a descending triangle on the weekly timeframe, spurred by recent downward momentum.