XRP’s price has had enough momentum since its inception, that the current bearish reversal has had little impact on the token. The price has maintained its acute strength, as a result of which it has begun a significant recovery.
However, the recovery may be fleeting, as the price is about to plummet precipitously, possibly signaling the end of the current bear cycle. Following that, the price may begin a nice upswing, potentially leading the entire crypto space higher.
In the long term, the popular token is sending out huge bearish signals, which could lead to a 50% drop in price in the coming days. Coinpedia previously reported on the formation of the Golden-Cross in the daily chart. However, the recent market crash rendered bullish scenarios obsolete, increasing the likelihood of bear dominance.
The XRP price has been trading in similar wave patterns since 2016, according to the long term chart of the XRP. Close inspection reveals that the rally is about to complete the final wave, after which a strong upswing may begin. However, in order to reach the higher levels, the price may fall below $0.2, representing a 50% drop in price.
Second, the 2022-23 pattern shows the formation of a bearish head and shoulders pattern. If the price falls towards the neckline, it may reach the bottom at around $0.18, which is also the bottom of the falling wedge. The price may find support at the bottom of the falling wedge, providing a once-in-a-lifetime opportunity to enter.
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Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
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The crypto-currency market continues to show tremendous upside potential with XRP leading the way. The cryptocurrency market cap of XRP has grown from 0.06 USD to 0.195 USD – an over 3000% increase year-to-date. This brings with it opportunity for investors who are interested in taking advantage of a once-in-a-lifetime opportunity.
XRP is now the third largest crypto-currency in the world by market capitalization, behind Bitcoin and Ethereum. It is seen as a disruptive technology and has seen significant success due to its power, flexibility and speed. XRP is a popular choice for many investors as it is less volatile than Bitcoin and has the potential to increase in value much quicker.
The future of XRP is looking bright and many experts have predicted that it could eventually become the go-to cryptocurrency for investors. Those who are keen to capitalize on the current surge in XRP price may be presented with a once-in-a-lifetime opportunity to accumulate more.
Investors should be aware of the risks associated with cryptocurrencies as they can be highly unpredictable. It is always important to consult with a financial adviser before investing in any cryptocurrency. Making sure to carefully research the market and stay up to date on news and trends is essential for any potential investor.
Overall, XRP is the ideal choice for those looking to capitalize on a once-in-a-lifetime opportunity to accumulate more. With its potential for quick growth and flexible technology, XRP is well positioned for long-term success.
