XRP may be subject to a noticeable trend towards a decrease, since the famous market analyst predicted a sharp decrease in prices below $ 2.
Last week, the asset had a purple patch after 8% from $ 2.07 to $ 2.30. Just at the time when optimism began to appear this week, XRP wiped all its earlier achievements this week. For context, the token decreased by 3.9% compared to the opening price on Monday and 8% of its intraoretheral maximum of $ 2.36.
Meanwhile, XRP is not alone in this recession. Token followed a broader market trend, as a result of which Bitcoin was fighting to hold $ 95,000, and Ethereum fell below $ 1800.
Further shortcomings?
However, according to the analyst Block Bull, the worst can be on the horizon for XRP. In its 29th April X PostHe predicted further shortcomings, specially aimed at a drop below the most important support zone for $ 2.
For context, a market analyst referred to an X -ray rejection of the tip of the bull flag template in the daily time. Token could not overcome resistance in the region, ultimately retreating more than 8%.
After this decline, the commentary predicts a sharp decrease in prices to $ 1.55, which is 30% regression from the top of the channel and 28.6% compared to the current market price. It is noteworthy that the price brand is aligned with the lower part of the flag template.
Meanwhile, Block Bull insists that a possible revolution was only a temporary and ideal input position. He urged investors to keep their bags, as whales use this kind of dumps for maximum profit.
Support is still holding
However, Bitguru analyst Highlighted In parallel tweet, which, despite the lack of XRP, it still has an important area of support. Over the past two days, a high-ranking asset has corrected more than 6%, falling from 2.30 to $ 2.5, however, the analyst noted that he was holding above the consolidation range in a 1-hour period of time.
Meanwhile, a market observer noted that the trend above the support of the range of $ 2.15 can cause rapid price recovery to $ 2.25 and, possibly, even higher prices. Interestingly, another analysis Offers The coin can accumulate up to $ 5 next month, a new record maximum.
At the same time, XRP is traded at $ 2.7, decreasing by 3% from the beginning of the day.
