Crypto Analyst Says XRP Price Will Crash 80% To $0.10, What’s The Trigger?

The

XRP
price
saw
some
recovery
over
the
weekend,
and
has
continued
to
maintain
some
of
this
bullish
momentum.
However,
it
seems
experts
do
not
expect
the
altcoin
to
continue
its
bullish
trend,
with
one
crypto
analyst
predicting
that
the
XRP
price
is
headed
for
a
massive
crash.

XRP
Price
On
The
Verge
Of
An
80%
Crash

A
crypto
analyst
who
goes
by
the
moniker
Without
Worries
on
the
TradingView
website
has
shared
a
concerning
development
for
the
XRP
price.
This

analysis
,which
focuses
on
the
altcoin’s
performance
over
the
last
two
years,
suggests
that
the
price
is
more
likely
to
crash
from
here
than
continue
its
climb.

Related
Reading

According
to
the
crypto
analyst,

the
XRP
price
had
been
trading
inside
an
uptrend
channel
for
the
last
two
years.
Mostly,
this
channel
has
held
up,
allowing
the
cryptocurrency
to
hold
onto
its
bullish
trend.
However,
the
analyst
explains
that
this
uptrend
channel
support
has
now
failed,
and
with
the
confirmation
complete,
it
points
to
a
price
reversal
for
the
altcoin.

Furthermore,
the
crypto
analyst
points
out
that
this
channel
support
failure
came
after
a
could
top
in
the
price
after
the
coin
broke
market
structure
back
in
April
2022.
Given
this,
he
expects
the
price
to
reverse
from
here
and
crash
to
levels
not
seen
since
2020.

The
target
for
this
crash
sits
at
the
$0.1,
according
to
the
analyst.
If
this
happens,
it
would
mean
an
over
80%
crash
from
the

current
value
of
the
token,
which
sits
at
around
$0.5,
at
the
time
of
this
writing.

Could
The
Uptrend
Continue
From
Here?

Like
with
any
analysis,
the
crypto
analyst
explains
that
there
is
a
scenario
in
which
the

XRP
price
could
continue
its
present
uptrend.
In
such
a
case,
the
price
would
have
to
continue
trading
inside
the
channel
and
hold
its
support
at
this
level.

Related
Reading

However,
he
explains
that
the
price
action
has
already
exited
the
channel.
Now,
the
point
to
hold
becomes
the
$0.3
level.
As
long
as
this
holds,
then
the
uptrend
would
continue.
“that
support
not
confirm,
10
cents
is
next,”
the
analyst
explains.

The
analyst
believes
it
is
possible
that

the
price
action
does
enter
the
channel
and
continue
to
uptrend.
However,
he
points
out
that
this
is
not
probable,
given
that
there
is
already
confirmation
of
the
price
failing
to
hold
support.

Nevertheless,
at
the
time
of
writing,

the
XRP
price
is
still
holding
above
$0.52
with
1.33%
losses
in
the
last
day.
But
it
is
seeing
small
gains
go
2.82%
in
the
last
week
and
remains

the
7th-largest
cryptocurrency
in
the
space
with
a
market
cap
of
$29.3
billion.

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com