<ul class="news-points">
 <li>A crypto analyst stated that if XRP breaks below the support trend line, it would reach the 29 cents support.</li>
 <li>XRP is currently changing hands at $0.4849, after experiencing a 7.85% fall over the week.</li>
 <li>There are still major signs of the continuous downtrend in the market as the remittance token doesn’t seem to be slowing down any time.</li>
</ul>
As the <a href="https://coinedition.com/market/" rel="noopener noreferrer nofollow">crypto market</a> struggles in the red ocean of the downtrend, a crypto analyst revealed a surprising analysis for XRP. The crypto analyst under the pseudonym Leb Crypto took to X (formerly known as Twitter) to point out that the candlesticks on the XRP/USD 1-week chart have been touching the long-term support trendline.
Expecting a bearish sentiment in the future, the crypto analyst stated that if the candlesticks break below the support trend line, it would reach the 29 cents support. The crypto analyst further predicted that if the downtrend continues, it could hit 17 cents and the bear market may prevail in the fourth quarter.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> MUST bounce. Way too many touches on the long term support trendline. If broken, 29 cents is next support. Then 17 cents. Probabilities favour lower in Q4.<a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> <a href="https://t.co/5J9Zm2XYXt" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/5J9Zm2XYXt</a>— LE�…
 </blockquote>
 </div>
</figure>
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/xrp-crisis-market-downturn-signals-bearish-q4-traders-brace-for-impact/">XRP Crisis: Market Downturn Signals Bearish Q4! Traders Brace for Impact!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

XRP Crisis: Market Downturn Signals Bearish Q4! Traders Brace for Impact!

Coin Edition

Other articles published on Oct 11, 2023

Shield AI Launches V-BAT Teams: A Game-Changer in AI-Powered Aircraft

Ether could eventually be worth $35,000: Standard Chartered

Polkadot (DOT) Price Prediction 2024, 2025, 2030, 2040, and 2050

Nio Inc -ADR: Will NIO Stock Price Return For $15 Mark From Here?

Circle launches on Polygon native USDC tokens.

SANDBOX GROUP Announces Move Into Web3 Through Partnership With XDB Chain

Join our free newsletter for daily crypto updates!