XRP flashing signs of crashing to $1.7, warns expert
XRP could be headed for a sharp downturn toward $1.7 as bearish technical indicators intensify, according to new market Analysis . This outlook by cryptocurrency analyst TradingShot, XRP has been trading within a long-term ascending channel for nearly a year, but its recent price structure suggests growing downside risk. In an October 17 TradingView Analysis , XRP was shown to be trading within a channel up pattern since late November 2024 but recently entered a second bearish phase after last week’s sell-off. XRP price analysis chart. Source: TradingView The price has broken below the mid-range of the ascending channel, signaling growing downward momentum. XRP key price levels to watch The analyst noted that a bearish crossover between the 1-day 50-day and 100-day moving averages has reinforced the negative outlook, echoing a similar signal earlier this year that drove XRP below the 0.786 Fibonacci retracement level. If the current de...