{"id":618603,"date":"2023-03-16T10:52:10","date_gmt":"2023-03-16T15:52:10","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/16\/xrp-price-is-preparing-for-a-severe-downfall-heres-the-next-support-level-for-xrp\/"},"modified":"2023-03-16T10:52:10","modified_gmt":"2023-03-16T15:52:10","slug":"xrp-price-is-preparing-for-a-severe-downfall-heres-the-next-support-level-for-xrp","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/16\/xrp-price-is-preparing-for-a-severe-downfall-heres-the-next-support-level-for-xrp\/","title":{"rendered":"XRP Price is Preparing for a Severe Downfall! Here\u2019s the Next Support Level for XRP"},"content":{"rendered":"
\n
\n
\n
\"xrp<\/figure>\n<\/div>\n
\n

Despite Bitcoin\u2019s recent significant surge, Ripple\u2019s price has remained stagnant with limited volatility and no clear direction. However, the cryptocurrency is currently trading within a narrow range and is expected to break out below soon, possibly resulting in a sudden, impulsive movement in the XRP price chart. As a result, analysts predict that the XRP price may form a final bottom before surging ahead<\/a> of the final summary judgment.\u00a0<\/p>\n

XRP Price Breaks Out with Downward Volatility<\/h2>\n

This week, the cryptocurrency market witnessed a bullish trend, and several assets, including Bitcoin and Ethereum, saw a price surge. Ripple, on the other hand, remained an exception, consolidating with no clear direction.<\/p>\n

Despite this, XRP is presently trading within a tight range of a triangle pattern and is expected to break out soon, which could result in a sudden, impulsive move based on the direction of the breakout. If the breakout is bearish, the primary support to the price will be $0.3.<\/p>\n

The digital currency, XRP, commonly linked with the Ripple payment protocol, is showing a concerning pattern in the present market. Despite a gradual rise in trading volume, XRP\u2019s price continues to decline steadily, suggesting a possible continuation of the downtrend in the coming days.<\/p>\n

A worrying development is the steady rise in trading volume, usually regarded as a positive signal of market demand, but it\u2019s combined with a downward price trend. This can indicate that there are more sellers than buyers in the market, which could result in a continued drop in the price.<\/p>\n

How Deep Will XRP Price Go?<\/h2>\n

XRP has breached the descending channel that had constrained its price movement for the past few months. Since breaking out of the channel, XRP has experienced a steep decline, increasing the likelihood of a further drop below the channel\u2019s lower boundary and worsening the already bearish trend.<\/p>\n

<\/figure>\n

As of writing, XRP trades at $0.36 with a downtrend of over 6% in the last 24 hours. Analyzing the hourly price chart, XRP has made a steep decline and formed a low near $0.34. If XRP drops below $0.34, it may witness another bottom near Bollinger band\u2019s lower limit of $0.3.<\/p>\n<\/div>\n

\n

Was this writing helpful?<\/h4>\n

No<\/span> Yes<\/span><\/h5>\n<\/div>\n
\n

\"Photo <\/a><\/p>\n

\n

Shayan Chowdhury<\/a><\/h3>\n

Shayan is a digital nomad and a professional journalist. He delivers high-quality engaging articles to Coinpedia through his in-depth research and analysis.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Shayan Chowdhury<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Bitcoin\u2019s recent significant surge, Ripple\u2019s price has remained stagnant with limited volatility and no clear direction. However, the cryptocurrency is currently trading within a narrow range and is expected to break out below soon, possibly resulting in a sudden, impulsive movement in the XRP price chart. As a result, analysts predict that the XRP<\/p>\n","protected":false},"author":1,"featured_media":618604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22381,4759],"tags":[],"class_list":{"0":"post-618603","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-preparing","8":"category-price"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/618603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=618603"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/618603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/618604"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=618603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=618603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=618603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}