Why Analysts Expect XRP Drop as the Cryptocurrency Slides Lower


XRP is preparing to plunge lower as the cryptocurrency forms a bearish price pattern. The cryptocurrency is actually down 1% in the past 24 hours, despite Bitcoin rallying a handful of percent. XRP’s underperformance of the leading digital asset may add pressure to its move to the downside. One analyst is eyeing a $0.25 price target for the altcoin, which is around 10% below the current price. XRP Could Drop Towards $0.25 As Price Action Loses Momentum XRP is preparing to move lower in the days ahead as the asset fails to hold above a critical downtrend formed at the August 2nd highs, according to one trader. Referencing the chart below, which shows XRP’s rejection at the downtrend and the asset’s inability to hold technical supports, the trader wrote: “$XRP #Ripple (USDT) update – breakout was a “False move”, 25 cents seems reasonable, lower range of high wave spinning top.”…

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