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Ripple price forecast - after a big sell-off now the bear market?

 


In our last Ripple price prediction , we wrote that the price could probably increase by around 100% due to a formation. The formation was a symmetrical triangle, which had a higher probability of breaking out to the upside. As a result, the price broke the lower trendline of the triangle and thus made a bearish breakout. Thus, we do not expect targets of $1.75 – $2 for the time being either. But how could the Ripple course continue? What are the next goals? We'll enlighten you!


Ripple price was able to break the lower trendline this week, which is why the price has now experienced a confirmed breakout to the downside. The first target is around $0.515. The course has almost reached this price level, but we are still a few percent short of testing the support. The current low is $0.546 and should decline another 6% (from the bottom). We expect this early next week. The price might find support at $0.515 for a short while.


From today's perspective, the Bitcoin price would have to fall about 13% to reach $30,000. Since it is likely that the Bitcoin price will fall to $30,000, we also expect the Ripple price to continue falling. Altcoins have historically suffered greater price losses than Bitcoin price, which is why we assume that Ripple price could lose a little more than 13 percent. We anticipate that the price could briefly dip below $0.515 before rallying above $0.515 again. As soon as we can say more about the future of the Ripple course, we will create a new article for you.

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Comments

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