Analysis Crypto by Thebittimes.Com

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XRP on Thursday dipped by double-digits in the charts and lost over 10% of its value. The leading altcoin is hovering around the $3.10 mark, and if the downturn continues, it could fall to the $2.90 level. It could erase most of the gains it generated this month and go back to square one in the indices. XRP is at a pivotal position where traders are exiting after initiating sell-offs due to profit bookings, leading to a correction. Also Read: Ripple Co-Founder Moves $175 Million XRP Amid 11% Price Crash Investors fear that Ripple’s native token has peaked after reaching an all-time high of $3.65 last week. This puts it in a position of weakness as the bigger the sell-off, the larger the chance of its price diving south. Taking an entry position now is considered risky as XRP is in the correction phase. Chances of losing money are higher now as the leading altcoin is on its way out of traders’ wallets. Will XRP Enter Correction Phase? Source: coinpedia.org According to the la...

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A cryptocurrency trading expert has pointed out that an XRP price breakout is already confirmed following the short-term bullish momentum, and investors should anticipate further surges. According to Alan Santana, XRP is showing potential for a higher shift, having broken above a descending trendline after weeks of consolidation following its December 2024 peak, as indicated in his TradingView post on January 12. XRP price analysis chart. Source: TradingView/Alan Santana Santana’s outlook noted that after a sharp bullish rally late last year, inspired by post-election optimism, XRP entered a retracement phase that evolved into a consolidation pattern. This pattern, often considered a 50/50 scenario where price action can break up or down, has now decisively favored the bulls. Picks for you U.S. Congress member discloses cryptocurr...