Frightening Prediction For Ripple Price From Popular Analyst: Back Into Streamer!
Popular altcoin Ripple (XRP) saw a parabolic spike that caused its price to double earlier this week. With this bullish move, Ripple price has increased to about $ 1 on some exchanges. However, according to analysts, this intense price spike has slowed down and the lack of any underlying catalysts supporting this move could put XRP in a deep correction.
A popular analyst has now stated that XRP could be on the top of seeing a selloff in the coming days and weeks. XRP has surprisingly been one of the best performing altcoins in the past few weeks. XRP, formerly called “dead” cryptocurrency, experienced a huge rally as capital inflows soared . However, it’s important to note that XRP is now showing signs of technical weakness. This is why some analysts suggest that a serious selling pressure could be just around the corner.
Chase_NL: Ripple price will see a deep correction
Ripple price held a massive rally. However, the price then saw sharp corrections. Despite falling significantly from its recent highs, the coin is still standing higher than the $ 0.23 level just before this parabolic rally took place. During the peak of the XRP craze, it climbed as high as $ 0.90 on some exchanges. Ripple has seen a huge dump after these highs.
However, there is still a chance for the bulls to regain control of the price action, according to some analysts. Chase_NL, a popular analyst, stated in his new analysis that XRP could be on the verge of a sharp decline. The analyst explained that Ripple price lost momentum after its rejection from the $ 0.80 levels. The popular analyst is now expecting a sharp correction in XRP. Chase_NL adds the following to his comments on the subject:
XRP: IT FAILED, IT’S BACK INSIDE THE STREAMER, AND NOW IT’S DEEP INSIDE. THEREFORE, THERE IS NO COIL POWER LEFT TO BE CUT. IF YOU ARE STILL INTERESTED IN TRADING THIS, TURN OFF THE CHART AND SET THE ALERTS FOR HTF LEVELS.