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XRP price could soon fall 72%



 XRP price is in danger of returning to the 2020 bottom. That implies a price drop of around 72%.


In the last XRP Price Predictions from April “ XRP Price Prediction – Bearish Times Ahead ” and “ The XRP Price Could Bearish Breakout ” we wrote:


“If the Ripple price breaks out bearishly and thus below the 50-month EMA at USD 0.55, XRP will only find support again between USD 0.4 – 0.46. If the Ripple price bearishly penetrates this support as well, XRP could even fall to USD 0.11 – 0.17.”


XRP price broke out bearish and fell around 50%


In fact, Ripple broke out in a bearish fashion and bottomed out at just under $0.33, taking Ripple down around 50% overall in May. However, the Ripple price was able to quickly recover and is currently in the support zone between USD 0.4 and 0.46. However, the monthly MACD is still bearish and the RSI is not giving any bullish signals either.


Could the XRP price fall around 72% now?

If Ripple breaks the support between USD 0.4 – 0.46 bearishly, it could fall around 72% to find support between USD 0.011 – 0.17 and bounce off it strongly. This would return the Ripple price to the low point of 2020. The MACD remains bearish on the weekly chart as the MACD lines remain bearish crossovers and the histogram is ticking bearish lower. The RSI is near oversold regions. There is still a chance for Ripple price to bounce off the current support between $0.4-$0.46 to rally to the next resistance at the 200-week EMA around $0.56.


MACD is already more bullish in the daily chart

Only the MACD in the daily chart gives bullish hope, because the histogram has been ticking bullishly higher for a few days and the MACD lines could also soon cross bullishly. However, the EMAs are still bearish crossovers, confirming the trend as bearish for the medium term. If the Ripple price nevertheless breaks the 200-week EMA in the course of an upward movement, it will find the next resistance between USD 0.62 and USD 0.65.


The XRP course will soon find support against BTC

The Ripple course will soon find support against BTC. The next supports for the Ripple course are at 0.0000116 BTC and between 0.0000045 and 0.0000062 BTC. Overall, however, the indicators in the weekly chart are clearly bearish: the EMAs are in a death cross, the histogram of the MACD is ticking bearishly lower and the MACD lines are also bearishly crossed.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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