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Crypto analyst MADWHALE has increased the possibility that the XRP price will experience a breakdown under the crucial support level of $ 2. The analyst also revealed the following major support if XRP drops below this support level.
XRP price can fall to $ 1.90 if it loses $ 2 support
In one TradingView -messageMadwhale predicted that the XRP price could fall to the major support at $ 1.90 if it loses the psychological level of $ 2. He noted that XRP has shown a classic Formation of triple topWith every successive peak that shows a weaker momentum. In accordance with this, the analyst claimed that a break under the 42 threshold is located because XRP is approaching a formidable resistance zone.
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Madwhale further stated that the downward movement is expected to extend to at least $ 1.9, which represents a fall of 18%. The analyst added that such a price decrease corresponds to the primary target and an important daily support level. Crypto analyst Ali Martinez Had also suggested that XRP could fall to $ 1.2 if it loses $ 2 support.
The analyst revealed that the XRP price was a main and shoulder pattern on the weekly graph, which puts the support level of $ 2 in the spotlight. His corresponding graph showed that the crypto could fall to $ 1.2 if it breaks below $ 2. Despite these Bearish for views, however, other crypto analysts, such as Egrag Cryptohave emphasized some positive aspects of the XRP price.
Egrag Crypto stated that the dominance of the XRP price showed enormous strength and predicted that if it was successfully closed over FIB 0.5, it could quickly collect to the FIB 0.888 level. Crypto analyst Dark Defender predicted that XRP could gather to a new all-time high (ATH) if it is retained the crucial support levels at $ 2.04 and $ 2.22.
The Altcoin still in the guard mode
CasiTrades from Crypto analyst stated that the XRP price retains strongly but is still in the guard mode. She added that the bullish structure remains intact, whereby the altcoin is retained above $ 2.26, which is the most important support of .382. The analyst noted that the price of XRP spent some time turning the consolidation to support, indicating that markets are set up for the next step.
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The Crypto analyst unveiled the resistance levels of $ 2.70 and $ 3.05 and the support level of $ 2.25 as the most important levels to view. She noted that the XRP price must turn $ 2.70 and $ 3.05 to become support for the confirmation of the Next wave up. In the meantime, CasiTrades suggested that XRP runs the risk of descending to $ 1.54 if it loses support for the lower support at $ 1.90.
The Crypto analyst also said that the price should break above $ 3.40, the current ATH, to confirm a new trend. Until that time it will be waiting for signs of confirmation, which she claimed may only be clear until Wave 3 in the market cycle. Casitrades claimed that important FIB levels have been violated and the market is on the edge of an outbreak.
At the time of writing, the XRP price acts according to around $ 2.29, according to more than 2% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Medium, graph of TradingView.com