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XRP Price Faces Major Decline: Analyst Predicts 80% Crash

Muhammad Syofri ArdiyantoBy 02 Mins Read
XRP Price
  • A crypto analyst believes that the XRP price will fall by more than 80% from its present levels.
  • XRP is struggling to retain its positive momentum and faces a potential catastrophic fall.

Over the weekend, the XRP price made a little comeback and has kept part of this bullish momentum. Experts, however, do not think the cryptocurrency will maintain its upward trajectory; in fact, one crypto analyst believes that the price of XRP is about to drop severely.

The price of XRP is About to Crash by 80%

An unsettling trend for the price of XRP has been disclosed by a cryptocurrency expert on the TradingView website, going by the name Without Worries. This two-year performance analysis of the cryptocurrency indicates that the price is more likely to drop from this point than to keep rising.

For the last two years, the XRP price had been moving inside an upward trend channel, claims the cryptocurrency analyst. Mostly, this channel has persisted, enabling the cryptocurrency to maintain its upward trajectory. The expert does point out that this uptrend channel support has now collapsed and that the confirmation completes a price reversal for the cryptocurrency.

xrp price
Source: Tradingview.com

Failure of the Channel and the Market Structure

The crypto analyst also notes that the price peaked in April 2022 when the currency destroyed the market structure, and this channel support failure followed. Considering this, he projects a reversal of the price and a fall to levels not seen before 2020.

The expert estimates that this crash will target $0.1. In such a case, the token’s current value would drop by more than 80%. CoinMarketCap data shows that the price of XRP at the time of writing is at $0.5259, down 0.33% in the previous day and 2.43% over the previous seven days.

As of right now, XRP is still working toward a market valuation of $30 billion, which CNF previously reported it was getting close to.

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Muhammad Syofri Ardiyanto is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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