Price Analysis

XRP Price Continues To Drop, May Exit The Top 10 Cryptocurrency List Soon!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 8, 2021

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Bitcoin price is again dropping after a notable jump close to $52,000. This drop could have dragged most of the altcoins towards their support levels yet again. The XRP price also closes the previous day’s trade on a bearish note. Yet the beginning of the present-day trade was much hopeful with the formation of a ‘Doji-candle’. However, the price slash squashed the bullish trend for the day, paving way for new bottoms to visit. 

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On the other hand, XRP price is testing some crucial level at the press time and hence could surge heavily if the trend line is cleared. One of the popular analysts, predicts the asset could undergo a remarkable jump of nearly 300% awaiting. 

As per the chart posted by the analyst, the XRP price is trending within the asymmetric triangle and testing the lower levels. And hence it’s mandatory for the asset to sustain above these levels and raise high in order to clear the upper resistance levels. Once the assets clear these resistance levels then a notable uptrend may be imminent. Interestingly, the analyst believes the initial target of the surge could be uplifting the price above $2 and later range high to test levels in between $2.8 to $3. 

However, some people appear to be frustrated with the narrow trend of the XRP price and believe the asset does not deserve to be in the top 10. Yet the asset needs to rebuild some bullish momentum in order to discover new highs. Else it may also revisit much lower levels may be below $1 too. Therefore, it is mandatory for the Ripple to sustain within the triangle and breakthrough towards the north. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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