XRP On The Brink: Urgent Call For Bulls As Analysts Predict Dire Correction Ahead
January 19 2024 - 7:30PM
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XRP is currently at a critical juncture, as crypto analyst CoinsKid
has pointed out. The analyst has raised concerns about the
altcoin’s immediate future and emphasizes the urgent need for
bullish momentum to prevent a significant downturn. Bulls Should
Step In Quick In the post shared on X, CoinsKid stressed that if
the bulls don’t step in soon, XRP could face a drastic “macro
correction,” potentially plummeting its price toward the $0.38
level. This warning follows a period of declining prices for XRP,
which has seen the asset struggle to maintain its value. Related
Reading: More Pain To Come: Crypto Analyst Predicts Massive XRP
Crash To $0.34 The analyst elaborated, “Squeaky bum time. TICK
TOCK,” highlighting the urgency and the nervous anticipation
surrounding XRP’s price movement in the coming days. This sentiment
reflects a broader concern among XRP investors and market
observers. The lack of bullish activity in the recent period has
left XRP vulnerable to further losses, raising fears that it could
slide to its lowest levels in months. The potential drop to $0.38
would represent a loss in value and mark a new phase of uncertainty
for the cryptocurrency. This comes when the broader crypto market
is experiencing its own challenges, with various assets facing
downward pressure. We need to see the bulls step in here for #xrp.
Otherwise, we could see a bigger macro correction play out towards
the 0.786 at $0.38 Squeaky bum time. TICK TOCK
pic.twitter.com/jKlBsiXu6h — CoinsKid (@Coins_Kid) January 19, 2024
XRP Price Action And Bearish Confirmation XRP’s recent market
performance has been far from reassuring for its holders. Over the
past week, the asset has seen a decline of more than 10%, and so
far, this bearish trend shows no signs of abating. The altcoin is
trading below $0.53, a drop of nearly 5% in the past 24 hours. This
downward trajectory is further corroborated by crypto analyst Ali,
who has pointed out that should XRP breach the $0.55 level, the
altcoin could tumble down to as low as $0.34. Such a drop would
take the altcoin to a price point not seen since April 2023, an
alarming prospect for investors and the XRP community. $XRP is
currently grappling to maintain its footing at the crucial $0.55
support level. Should this support fail to hold, be prepared for a
possible sell-off scenario that could see #XRP descending toward
$0.34! pic.twitter.com/6oKObjpnnm — Ali (@ali_charts) January 18,
2024 Despite this downturn, XRP’s daily trading volume has remained
relatively stable, fluctuating between $1.4 billion and $1.2
billion over the past week. At the time of writing, Altcoin’s
trading volume was around $1.28 billion. Featured image from
Unsplash, Chart from Tradingview
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