There have been some weaknesses for Ripple (XRP) over the past few days. At the same time, the selling pressure in the $ 0.60 and $ 0.65 area puts Ripple in a difficult position.
Where the XRP will head in a medium-time period; it will likely be a situation closely related to whether this level will continue into a solid resistance. According to analysts’ comments; If XRP can go above this level, the cryptocurrency can gain a great momentum after a short time. A famous analyst expresses his views on XRP’s price action and market structure. In his views, he states that Ripple’s negative price movements will come.
The apparent weakness arises even in the airdrop, which is considered to be a rising agent and whose time is coming. According to analysts’ comments, there are some technical levels that will strengthen the market structure and support XRP to reach high rates in the future, provided that it is overcome. But if the high rates are not recovered, the Ripple market could face a major collapse, according to analysts.
NekoZ; Highlighted That Metrics In Ripple Are Of Alarming!
At the time of writing (1-2 hours ago) XRP; It continues to be traded on the bullish line with its current price of $ 0.60. This indicates a significant recovery after the lows of $ 0.54. However, it should be emphasized that the cryptocurrency is still unable to reach high rates of $ 0.90 and is below this level. The $ 0.60 level seems to be a momentous case for XRP, as the breaks turn the balance to the benefit of the bears. Trades above the existing level, on the other hand, mostly choose the bulls.
As the week approaches the closing, how XRP will react to these rates will determine where it will head in the coming weeks. Famous analyst NekoZ emphasized in his new analysis that XRP is currently in an unstable area. NekoZ said that a break that will occur below the 200-day EMA above the 1-hour chart seems terrifying. He also stated that he will state that the structure of the upward market is short of disintegration. The famous analyst uses the following sentences on the subject:
“It’s starting to look like the worst money in the world again. The 200-day EMA on the 1-hour chart, let’s see if we can hold it and go back to the structure. Especially the break below the 200-day EMA on the 1-hour chart is terrifying …
Disclaimer: What is written here is not an investment advice. Crypto money investments are high-risk investments. Each investment decision is under the responsibility of the individuals.