{"id":59866,"date":"2020-01-30T12:21:52","date_gmt":"2020-01-30T10:21:52","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=59866"},"modified":"2020-01-30T12:21:52","modified_gmt":"2020-01-30T10:21:52","slug":"analyst-warns-xrp-plunge-45-percent-beg-to-differ","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/analyst-warns-xrp-plunge-45-percent-beg-to-differ\/","title":{"rendered":"Analyst Warns XRP Price May Plunge To $0.14, Others Beg to Differ"},"content":{"rendered":"<p>Since peaking at over $3.00 in 2018, XRP, the third-largest cryptocurrency by market capitalization, has not fared well, finding itself stuck in a steep downtrend against the U.S. dollar for years on end. Right now, the price of the digital asset is $0.24 \u2014 well over 90% lower than the aforementioned all-time high.<\/p>\n<p>Unfortunately, some have expectations for the leading digital asset to continue a steep decline heading into 2020.<\/p>\n<p>Trader Crypto Krillin <a href=\"https:\/\/twitter.com\/LSDinmycoffee\/status\/1222313872067088384\" rel=\"nofollow noopener\">noted<\/a> that XRP&#8217;s weekly chart against Bitcoin is showing that the cryptocurrency could fall 45% against BTC, noting that this is a historical support and resistance level of utmost importance, suggesting it could retrace to that level. With a $10,000 BTC, that would mean XRP would have a value of $0.14 \u2014 also around 45% lower than the current price of $0.24.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$XRP<\/a><\/p>\n<p>I still love my plan above, but looking at the weekly chart vs <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a> I think 1380 sats is reasonable, and with a 10k+ <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a> that&#39;s actually 14 cents for Ripple.<\/p>\n<p>Might not get 6 cents after all. <a href=\"https:\/\/t.co\/OdKKZr4F11\" rel=\"nofollow\">pic.twitter.com\/OdKKZr4F11<\/a><\/p>\n<p>&mdash; Crypto Krillin \u0950 (will not DM you don&#39;t be stupid) (@LSDinmycoffee) <a href=\"https:\/\/twitter.com\/LSDinmycoffee\/status\/1222313872067088384?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">January 29, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This skepticism has been echoed by Brave New Coin&#8217;s crypto asset analyst, Josh Olszewicz, who said that at around 3,000 satoshis per XRP, the <a href=\"https:\/\/en.ethereumworldnews.com\/analyst-warns-xrp-could-plunge-by-dozens-of-percent-heres-why\/\">cryptocurrency is looking extremely bearish<\/a> as it is below the 200-day exponential moving average, below the Ichimoku Cloud on the daily, and is trading below a massive volume zone as marked by volume profiles, indicating strong resistance right overhead. In other words, \u201cthere\u2019s no bullish anything here, [so the price action] will be grindy, and thus could revisit lows here.\u201d<\/p>\n<h2><strong>Majority Are Leaning Long On XRP<\/strong><\/h2>\n<p>Although Krillin is skeptical of XRP&#8217;s price prospects, a growing number of people say a surge is most likely than a price drop.<\/p>\n<p>Per <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-price-explode-higher-bitcoin\/\">previous reports from Ethereum World News<\/a>, Amsterdam Stock Exchange trader Michael Van De Poppe said that he expects for XRP\/BTC to soon explode 170% higher. He noted that the pair is on the verge of breaking out of a downtrend that has constrained prices since the start of 2019, before adding that XRP has held a very important historical support level against Bitcoin, suggesting bullish strength.<\/p>\n<p>Not to mention, Credible Crypto pointed out that<a href=\"https:\/\/en.ethereumworldnews.com\/heres-why-xrp-price-explode-higher-analysts-bullish\/\"> XRP (against the dollar) has finally broken out of a massive falling wedge pattern<\/a> that has constrained the price action of the cryptocurrency for multiple years. The asset yesterday made a close above the falling wedge, confirming the breakout.<\/p>\n<p>While it isn\u2019t clear exactly what effect a falling wedge of this size will have on XRP, upward breakouts of these chart formations often imply continuation to the upside.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">\ud83d\udc40 <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$XRP<\/a> <a href=\"https:\/\/t.co\/HaBG7kNiXz\" rel=\"nofollow\">pic.twitter.com\/HaBG7kNiXz<\/a><\/p>\n<p>&mdash; Credible Crypto (@CredibleCrypto) <a href=\"https:\/\/twitter.com\/CredibleCrypto\/status\/1222345119501824010?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">January 29, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<pre>Featured Image from Unsplash<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Since peaking at over $3.00 in 2018, XRP, the third-largest cryptocurrency by market capitalization, has not fared well, finding itself stuck in a steep downtrend against the U.S. dollar for years on end. Right now, the price of the digital asset is $0.24 \u2014 well over 90% lower than the aforementioned all-time high. Unfortunately, some have expectations for the leading digital asset to continue a steep decline heading into 2020. Trader Crypto Krillin noted that XRP&#8217;s weekly chart against Bitcoin [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":59570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4656],"tags":[188,6971,83,111,6957],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/59866"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=59866"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/59866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/59570"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=59866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=59866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=59866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}