XRP is currently at a critical juncture, as crypto analyst CoinsKid has pointed out. The analyst has increased concerns about the altcoin’s immediate future and highlights the urgent need for bullish momentum to avoid a significant downturn.
Bulls must act quickly
In the post shared on This warning follows a period of declining prices for XRP, which has left the asset struggling to maintain its value.
The analyst explained, “Squeaky bum time. TICK TOCK,” highlighting the urgency and nervous anticipation surrounding XRP’s price movement in the coming days.
This sentiment reflects broader concerns among XRP investors and market observers. The lack of bullish activity in recent times has left XRP vulnerable to further losses, raising fears that it could slide to the lowest levels in months.
The potential drop to $0.38 would represent a loss of value and mark a new phase of uncertainty for the cryptocurrency. This comes as the broader crypto market experiences its own challenges, with several assets under downward pressure.
We need to see the bulls come in here #xrp. Otherwise, we could see a bigger macro correction towards 0.786 at $0.38
Squeaky ass time. TICK TOCK pic.twitter.com/jKlBsiXu6h
— CoinsKid (@Coins_Kid) January 19, 2024
XRP Price Action and Bearish Confirmation
XRP’s recent market performance has been far from reassuring for its holders. Over the past week, the asset has seen a decline of more than 10%, and so far this bearish trend shows no signs of abating. The altcoin is trading below $0.53, down almost 5% in the past 24 hours.
This downward trajectory is further confirmed by crypto analyst Ali, who has done the same pointed out Should XRP breach the USD 0.55 level, the altcoin could fall to USD 0.34. Such a drop would take the altcoin to a price level not seen since April 2023, an alarming prospect for investors and the XRP community.
$XRP is currently struggling to maintain the crucial support level at $0.55. If this support does not hold, be prepared for a possible sell-off scenario #XRP falling towards $0.34! pic.twitter.com/6oKObjpnnm
— Ali (@ali_charts) January 18, 2024
Despite this downturn, XRP’s daily trading volume has remained relatively stable, fluctuating between $1.4 billion and $1.2 billion over the past week. At the time of writing, Altcoin’s trading volume was approximately $1.28 billion.
Featured image from Unsplash, chart from Tradingview
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