• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: BREAKING: Robinhood Takes A Stand: Ditches 3 SEC-Designated 'Crypto Securities'
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Robinhood Takes A Stand: Ditches 3 SEC-Designated 'Crypto Securities'
Bitcoin xrp featured chinese yuan

XRP, the “Weakest” of the Top 10 Cryptocurrencies, Could Soon Dump 20%: Analyst

Nick Chong by Nick Chong
3 years ago
in Altcoin Price
0

Despite the recent recovery, a number of analysts say that XRP is primed to move lower in the coming weeks. One trader went as far as to suggest that the cryptocurrency is prepared to drop 20% in the next four weeks alone.

XRP Is Preparing to Plunge, Analysts Say

Bitcoin, Ethereum, XRP, and other top cryptocurrencies have mounted a strong recovery since last week’s crash.

The recovery has convinced analysts that BTC, and thus altcoins, are primed to head higher. One trader explained that Bitcoin’s recent price action looks almost identical to that seen in April and May of 2019, which preceded an 80% rally that took the asset from the $8,000s to $14,000.

“BTC Renko Similarities. Divergence present into ~18% correction. The correction began a fresh run for ~80% gains. Current PA is looking very similar in structure to the last significant BTC run,” the analyst commented on the importance of the chart below and what is transpiring with the ongoing price action.

Bitcoin price chart
Bitcoin price chart with so-called Renko candles shared by a prominent analyst named Cold Blooded Shiller (@ColdBloodShill on Twitter).

Yet according to a prominent trader, XRP is unlikely to rally despite the Bitcoin outlook.

He shared the chart below, indicating that the cryptocurrency is showing signs it is going to drop upwards of 20% to $0.16 in the coming four weeks.

The bearish sentiment is seemingly based on a form of Elliot Wave analysis, which suggests that markets move in predictable wave-like trends due to investor psychology.

“Poor XRP, just cant catch a break and hands down looks the weakest of all the top 10s. in saying that i think once it scam dumps to 0.16c it might be a pretty sweet long.”

xrp
Bearish XRP chart from trader @SmartContracter (Twitter handle).

The analyst that shared the chart above is the one who, in the middle of 2018, called that Bitcoin would bottom at $3,200. This was an accurate prediction, with the flagship cryptocurrency forming a macro low at $3,150 just six months after the forecast.

Altcoins As a Whole Are Weak

It may seem as though XRP is being picked on, but purportedly all altcoins are bearish.

The lead technical analyst at crypto research firm Blockfyre recently shared that “altcoins (as a whole)  are really going to struggle” moving forward.

“ETH heading for levels not seen since 2016. LTC trading below 2014-2016 prices. XRP heading for levels from 2014, 2016, and 2017. The alt market looks like it could capitulate soon. Seems like the worst is yet to come but afterwards should provide huge opportunities,” he said.

This was echoed by Josh Olszewicz of Brave New Coin, who shared a few weeks ago that Bitcoin dominance is poised to rally higher.

Featured Image from Shutterstock
Price tags: xrpusd, xrpbtc
XRP, the "Weakest" of the Top 10 Cryptocurrencies, Could Soon Dump 20%: Analyst
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

WOO Network Posts 50% Rally In Last 7 Days – Will WOO Keep Rising Next Week

WOO Network Posts 50% Rally In Last 7 Days – Will WOO Keep Rising Next Week?

2 months ago
Dogecoin and Elon, SpaceX launch

Dogecoin Crashes Back To Earth While Elon Musk Plays With Rockets

2 years ago
The Flippening in nature

Could Dreams Of Ethereum Flippening Bitcoin Be “Officially Cancelled”?

2 years ago
Ethereum, undraw

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

2 years ago
Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

2 years ago
Ethereum bull run

Ethereum And The Undeniable Signs Of A Bull Market

2 years ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    1 week ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    1 week ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    1 week ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • AI Investment Goldmine: Discover the 4 Cryptos That Could...

    33 mins ago
  • XRP to Reach $1 While DigiToads Is Set to 100x

    2 hours ago
  • Polygon (MATIC) Debuts Billion-Dollar Gateway, Elevating...

    3 hours ago
  • Ethereum (ETH) Set to Outpace Bitcoin (BTC) in Market Cap...

    3 hours ago
  • Beyond Meme Tokens: Discover Sub-$1 Cryptos with Unleashed...

    3 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.