- XRP price set to consolidate at $0.70.
- The consolidation would be likely to impose a $10 risk on Ripple.
- The Crypto market is slowly bouncing back.
Real-time crypto price action at this crucial moment of the crypto market ups and downs seems to have an unseen hand to elevate a downward swing towards XRP. The downtrend could even involve the entire XRP market. Instead of the space to await a bullish sign of XRP, traders should expect XRP price in an opposite direction.
This confirms a forecast suggestion that mentioned that XRP could decline from its present price of $0.7911 to $0.70 value. The decline is expected to occur if XRP fails to maintain its price momentum for the long term. Based on the report, the downturn position of XRP at this time around is not a tale of the “Fear, Uncertainty, and Doubt (FUD)” mind-game. Instead, it’s a rare expectation that could lead to a price drop of XRP if the present red and green momentum continues to drip the XRP market.
More pressingly, to invalidate the $0.70 bearish mode ahead, XRP has to be certain and elevate its performance higher to smash a price of $0.83. Jumping above the $0.83 threshold will propel XRP to gain grounds to overcome the forecasted $0.70 dip.
The XRP decline to $0.70 poses a minimum of 10% threat to Ripple. This has made Ripple experience a lower low and higher high pattern, showing a risk situation to Ripple.
TradingView: XRP/USDT
From the chart readings, if selling pressure or market capitulation sentiment continues to increase, Ripple price will be triggered. This outline is based on a shred of evidence from the chart’s Simple Moving Average (SMA) and where the Fibonacci extension level intersects.
At writing time, the price of XRP is at $0.78965 with a 24-hour trading volume of nearly $2.7 billion according to CoinMarketCap data. Its 7-days growth rate is up 1.90%.