{"id":437156,"date":"2022-04-25T16:33:55","date_gmt":"2022-04-25T13:33:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/could-xrp-price-lose-another-70-by-q3\/"},"modified":"2022-04-25T16:33:55","modified_gmt":"2022-04-25T13:33:55","slug":"could-xrp-price-lose-another-70-by-q3","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/could-xrp-price-lose-another-70-by-q3\/","title":{"rendered":"# Could XRP price lose another 70% by Q3?"},"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-6a37322908c2b\" 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-6a37322908c2b\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/could-xrp-price-lose-another-70-by-q3\/#%E2%80%9D_Could_XRP_price_lose_another_70_by_Q3_%E2%80%9C\" >&#8221; Could XRP price lose another 70% by Q3? &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/could-xrp-price-lose-another-70-by-q3\/#More_XRP_price_downside_ahead\" >More XRP price downside ahead?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/could-xrp-price-lose-another-70-by-q3\/#Bitcoin_price_correlation\" >Bitcoin price correlation\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Could_XRP_price_lose_another_70_by_Q3_%E2%80%9C\"><\/span>&#8221; Could XRP price lose another 70% by Q3? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Ripple (XRP)\u00a0continued its correction trend on April 25, falling by 5.5% to reach $0.64, its lowest level since Feb. 28.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"More_XRP_price_downside_ahead\"><\/span>More XRP price downside ahead?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The plunge increased the possibility of triggering a bearish reversal setup called descending triangle. While these patterns form usually during a downtrend, their occurrences following strong bullish moves usually mark the end of the uptrend.<\/p>\n<p>XRP has been in a similar trading channel since April 2022, bounded by two trendlines: a lower horizontal and an upper downward\u00a0sloping. <\/p>\n<p>The pattern now nears its resolve as XRP pulls back toward the support trendline that&#8217;s also coinciding with the 50-week exponential moving average (50-week EMA; the blue wave), five weeks after testing the upper trendline as resistance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/aec231fa-c55a-427a-88ce-b4fb9738efc7.png\"><figcaption style=\"text-align: center;\"><em>XRP\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>If a breakdown occurs below the triangle&#8217;s lower trendline, coupled with increased volumes, XRP&#8217;s price could fall to the level that is at the length equal to the maximum distance between the structure&#8217;s upper and lower trendline, as shown in the chart above.\u00a0<\/p>\n<p>That would put XRP en route towards $0.19, about 70% lower than April 25&#8217;s price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_price_correlation\"><\/span>Bitcoin price correlation\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bearish outlook for XRP comes majorly in the wake of a similar selloff h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening across Bitcoin (BTC), Ether (ETH) and the rest of the crypto market.\u00a0The correlation between Bitcoin and XRP was 0.84 as of April 25. A perfect score of 1 indicates that the two assets move perfectly in sync with one another.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/9f3ec209-9830-4219-a47d-aeef08d4ebd8.png\"><figcaption style=\"text-align: center;\"><em>XRP\/USD correlation efficiency with BTC\/USD. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Furthermore, Bitcoin could fall to its January lows below $33,000, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-25\/bitcoin-faces-challenging-week-as-risk-off-mood-gathers-momentum\">asserts<\/a> Mark Newton, a technical strategist at Fundstrat. BTC&#8217;s initial pullback to $36,300 &#8220;should lead to a full retest of $32,950 without too much trouble,&#8221; he added.\u00a0<\/p>\n<p><strong><em>Related:\u00a0\u2018Something sure feels like it&#8217;s about to break\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>As a result of its positive correlation with Bitcoin, XRP could therefore decline further to trigger its descending triangle breakdown setup.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/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\/could-xrp-price-lose-another-70-by-q3\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Could XRP price lose another 70% by Q3? &#8220; Ripple (XRP)\u00a0continued its correction trend on April 25, falling by 5.5% to reach $0.64, its lowest level since Feb. 28. More XRP price downside ahead? The plunge increased the possibility of triggering a bearish reversal setup called descending triangle. While these patterns form usually during&#8230;<\/p>\n","protected":false},"author":1,"featured_media":437157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTMwNzE3MjAtNjQzYy00MTQ5LWE0YTYtMTRlMDE0MjZlNTNkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74939,75034,78261,75557,70550,73785],"class_list":["post-437156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-market-analysis","tag-ripple","tag-tech-analysis","tag-xrp","tag-federal-reserve","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437156","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=437156"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/437157"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=437156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=437156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=437156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}