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<p><a href="https://x.com/Ripple_Effect11/status/1810424130845741352?t=iOzCOK5q6gAOSfkjVjbs7Q&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">The_Ripple_Effect</a>, a crypto analyst, has raised some concerns about the possibility of the Ripple price having a significant decline based on some technical indicators that they point to.</p>
<p>Based on their analysis, the price has been in a triangle breakdown, and if the price closes below $0.42 on the weekly timeframe, it could be “extremely negative’ for the crypto.&nbsp;</p>
<p>They pointed out that the current technical pattern can be traced back to a corrective wave that has started in 2018, which they tagged a wave 2 correction in the larger ABC pattern.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="431" src="https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-1024x431.png" alt="" class="wp-image-522918" srcset="https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-1024x431.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-300x126.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-767x323.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-1536x647.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-2048x863.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-356x150.png 356w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-831x350.png 831w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264-788x331.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-264.png 1968w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The analyst sees the current move as being wave C, with a possibility of being either wave 3 or 5. Based on this pattern, the Elliot Wave Theory suggests a major price drop is coming.&nbsp;</p>
<h2 class="wp-block-heading" id="ripple-vs-sec-case-a-long-battle-ahead">Ripple vs. SEC Case: A Long Battle Ahead</h2>
<p>Part from the price action, another reason the price of <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> is having a negative outlook is the ongoing battle between Ripple and the SEC.</p>
<p>The_Ripple_Effect said that the case may not end until July 2026, based on the timeline set by the Second Circuit. The uncertainty around this issue could continue to affect the market sentiment of XRP and make many people continue to drop.&nbsp;</p>
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<p>Despite the current negative outlook, the analyst suggests there may be opportunities for investors in the long run. The_Ripple_Effect points to “buy targets 3 and 4” in the chart as potentially good entry points for “smart money” before a big “utility boost” is expected between 2026 and 2030.</p>
<p>Although the short-term outlook seems negative, The_Ripple_Effect remains somewhat optimistic about the long-term future.</p>
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<p>The post <a href="https://captainaltcoin.com/ripple-extremely-bearish-with-major-price-sell-off-ahead-when-will-xrp-price-recover/" rel="noopener noreferrer nofollow">Ripple Extremely Bearish with Major Price Sell-Off Ahead: When Will XRP Price Recover?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Extremely Bearish with Major Price Sell-Off Ahead: When Will XRP Price Recover?

Table of Contents

CaptainAltcoin

Άλλα άρθρα που δημοσιεύτηκαν στις 9 Ιουλ 2024

Investors Track Altcoin Fluctuations

BTC Influences Altcoin Market Volatility

Ripple (XRP) Sees Spike in User Activity: Price Reaction Ahead

Mysterious 150 Million XRP Moved Between Two Wallets

Telegram’s Notcoin (NOT) Price Rebounds 68%, Targets $0.0211 Amid Recovery Phase

PawFury (PAW) Secures $4M In Funding, Positioned To Surpass Chainlink And Avalanche

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