{"id":143388,"date":"2020-12-29T11:43:24","date_gmt":"2020-12-29T08:43:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-low-could-xrp-go-watch-these-price-levels-next\/"},"modified":"2020-12-29T11:43:24","modified_gmt":"2020-12-29T08:43:24","slug":"how-low-could-xrp-go-watch-these-price-levels-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-low-could-xrp-go-watch-these-price-levels-next\/","title":{"rendered":"# How low could XRP go? Watch these price levels next"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dfd3764a1a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dfd3764a1a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-could-xrp-go-watch-these-price-levels-next\/#Where_would_the_XRP_price_go_next\" >Where would the XRP price go next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/how-low-could-xrp-go-watch-these-price-levels-next\/#What_happens_next\" >What happens next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># How low could XRP go? Watch these price levels next  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>XRP price dropped by 30% on Dec. 29 following Coinbase\u2019s decision to suspend trading.\u00a0<\/p>\n<p>The market sentiment around XRP has become overwhelmingly negative due to the fear of more exchange delistings.<\/p>\n<p>In the near term, XRP faces three key historical support levels at $0.224, $0.1743 and $0.1471. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_would_the_XRP_price_go_next\"><\/span>Where would the XRP price go next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The ongoing price trend of XRP is not cyclical nor reliant on technical analysis. It is due to investors selling XRP following the suspension of trading across major cryptocurrency exchanges.<\/p>\n<p>On Dec. 29, Coinbase announced that it is suspending the XRP trading pairs on their platform. Paul Grewal, the chief legal officer at Coinbase, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.coinbase.com\/coinbase-will-suspend-trading-in-xrp-on-january-19-2e09652dbf57\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cIn light of the SEC\u2019s lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time*. We will provide additional updates, if any, through the Coinbase Support <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account, including if there are any changes to timing.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Given the SEC\u2019s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/izreZvgHNl\">https:\/\/t.co\/izreZvgHNl<\/a><\/p>\n<p>\u2014 Coinbase (@coinbase) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase\/status\/1343685626001039360?ref_src=twsrc%5Etfw\">December 28, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph previously reported, analysts anticipated Coinbase to suspend XRP trading after the SEC filed its complaint.<\/p>\n<p>Coinbase plans to undergo an initial public offering (IPO) and it is in the firm\u2019s best interest to remain fully compliant with the regulators in the U.S.<\/p>\n<p>Considering the regulatory uncertainty around XRP, traders have emphasized that technical analysis is of less importance in the short term. Scott Melker, a cryptocurrency trader, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1343712482200854529\">said<\/a>:<\/p>\n<blockquote><p>\u201cA few people have told me that there&#8217;s oversold bullish divergence on the $XRP chart. You are doing it wrong. Charts don&#8217;t matter here. You cannot trade in a vacuum. Jesus could come down with Biggie and Tupac and put on a concert for Brad Garlinghouse and I still wouldn&#8217;t buy.\u201d<\/p><\/blockquote>\n<p>In the foreseeable future, XRP has several major support areas it could potentially recover from. However, these are deep support levels on the weekly chart, which shows that it lacks momentum for a major rebound.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/56a3c90c-ea55-4a19-baa0-038ab45adf34.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP\/USD weekly candle price chart (Coinbase). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>The XRP price has fallen by over 60% in merely two weeks, recording one of its steepest two-week drops in history.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_next\"><\/span>What happens next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adam Cochran, a partner at Cinneamhain Ventures, was one of the first to break the story that Coinbase had conversations about suspending XRP trading.<\/p>\n<p>Cochran hinted that the SEC are probably looking into more projects and companies than people realize. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AdamScochran\/status\/1343814591848062976\">said<\/a>:<\/p>\n<blockquote><p>\u201cIf you thought my scoop on Coinbase delisting\/suspending $XRP was insightful, you&#8217;re going to love the next scoop I&#8217;m working on, this week. Looks like that SEC is far more active than we thought and sniffing around a number of projects and companies!\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/how-low-could-xrp-go-watch-these-price-levels-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# How low could XRP go? Watch these price levels next &#8221; XRP price dropped by 30% on Dec. 29 following Coinbase\u2019s decision to suspend trading.\u00a0 The market sentiment around XRP has become overwhelmingly negative due to the fear of more exchange delistings. In the near term, XRP faces three key historical support levels at&#8230;<\/p>\n","protected":false},"author":1,"featured_media":143389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/d7243601-1e34-41a9-a0ea-d7e42813ae8c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75034,75557,73785],"class_list":["post-143388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-ripple","tag-xrp","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/143388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=143388"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/143388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/143389"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=143388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=143388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=143388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}