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Analyst says XRP likely to crash hard

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Ryan Asher
Ryan Asher
A post-graduate in business administration from Rutgers University, Ryan love to express his thoughts in writing. Ryan entered the crypto space by selling his car back in 2013 and investing the money into bitcoin. Apart from writing, Ryan loves to travel and believes that bitcoin is helping him fulfill his dream of traveling across the world.

XRP has made a breakout from a triangle, and it is very likely for the price to maintain a downward trend. XRP price recently touched $0.30 before falling back to $0.23

A trend analyst has observed that XRP has made a breakout from a triangle, and it is very likely for the price to maintain a downward trend. XRP price recently touched $0.30 before falling back to $0.23. With the crash in the price of bitcoin last week, other major altcoins also lost significant value.



XRPUSD is made a breakout from the triangle! by Yuriy_Bishko on TradingView.com

Many from the crypto community have blamed Ripple’s regular dumping of XRP for the fall in the cryptocurrency’s price. At the time of writing, the cryptocurrency is trading at $0.235. On 19th September, when XRP gained more than 19% in a 24-hour space, Ripple transferred $8.5 million worth of coins to its OTC wallet.

Ripple seemed to recover last week as it touched $0.24 mark, but the short time prediction is bearish. Even after losing a steep 40% over the past three months, XRP remains the third-largest cryptocurrency with the market cap of $10.67 billion.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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