bullish

Bitcoin

Dogecoin

MANTRA

<p>According to crypto analyst Chris McCrypto, XRP may retest the $0.45 level if <a href="https://captainaltcoin.com/bitcoin-bulls-should-give-70k-a-go-as-this-btc-metric-soars/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> drops to about $57k. McCrypto claims that the technical indications on XRP’s chart are pointing to a short-term bearish outlook.&nbsp;</p>
<p>Since 2021, <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> has been trading in a symmetrical triangle pattern; its price swings between convergent trendlines. While the bottom support level rests about $0.45, the top resistance line floats close to $0.70.&nbsp;</p>
<p>In addition, this pattern usually denotes a consolidation phase preceding a breakout. Furthermore, <a href="https://captainaltcoin.com/xrp-price-could-hit-10000-ripple-analyst-explains-why/" target="_blank" rel="noopener noreferrer nofollow">XRP may make a move</a> to the upside or fall when it gets closer to the peak.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> Stoch RSI is cooling off on the weekly as expected. Bearish cross on the RSI and MACD looks like it will turn bearish soon (short term). <br><br>Little further to go and if BTC falls to around $57k this could definitely push <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> price to the bottom of the triangle again around… <a href="https://t.co/YFnXhVk2FL" target="_blank" rel="noopener noreferrer nofollow">https://t.co/YFnXhVk2FL</a> <a href="https://t.co/2a4emZMdLB" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2a4emZMdLB</a></p>— Chris McCrypto (@ChrisMcCrypto) <a href="https://twitter.com/ChrisMcCrypto/status/1844297395275755833?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 10, 2024</a>
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<p>Chris McCrypto’s chart analysis suggests that XRP may experience short-term weakness due to ongoing bearish signals from key technical indicators. The Stochastic RSI on the weekly timeframe is cooling off, pointing to reduced momentum.&nbsp;</p>
<p>Additionally, a bearish crossover is forming on the RSI, indicating that further downside pressure may occur before any bullish move can begin.</p>
<h2 class="wp-block-heading" id="strong-potential-impact-of-bitcoin-s-decline-strong"><strong>Potential Impact of Bitcoin’s Decline</strong></h2>
<p>In his tweet, McCrypto highlighted the potential influence of Bitcoin’s price movement on XRP. He noted that if <a href="https://u.today/bitcoins-btc-suffering-continues-solana-sol-at-crucial-support-level-whats-next-ethereum-eth-to" target="_blank" rel="noopener noreferrer nofollow">Bitcoin falls</a> to around $57k, it could drive XRP down to the $0.45 level, which aligns with the bottom support of the symmetrical triangle.&nbsp;</p>
<p>Such a dip, while concerning for short-term traders, may also present a buying opportunity for those anticipating a bullish reversal in the long term.</p>
<p>The MACD indicator is also approaching a bearish crossover, reinforcing the likelihood of a price correction soon. However, McCrypto’s analysis suggests that this could be the final dip before XRP has substantial upward momentum, potentially breaking out of the triangle pattern.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/mantra-om-price-pumps-among-top-crypto-gainers/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>MANTRA (OM) Price Pumps, Among Top Crypto Gainers</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-traders-watch-key-support-and-resistance-levels-strong"><strong>Traders Watch Key Support and Resistance Levels</strong></h2>
<p>Monitoring the key support and resistance levels will be very important as <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP’s price</a> moves within the symmetric triangle. While a breakout over $0.70 may indicate the start of a new bullish trend, a movement below the $0.45 support could cause more dips.&nbsp;</p>
<p>For now, waiting for Bitcoin’s next action to validate XRP’s price trend will be worthy.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-drop-may-trigger-xrp-price-retest-of-0-45-crypto-analyst-warns/" rel="noopener noreferrer nofollow">Bitcoin Drop May Trigger XRP Price Retest of $0.45, Crypto Analyst Warns</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Drop May Trigger XRP Price Retest of $0.45, Crypto Analyst Warns

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