According to reports, in the Sunday accident, XRP may have crashed, but futures operators are analyzing that the price will recover quickly.
What happened
With open XRP futures stalls, about 74% of Binance merchants took a long position in the fourth largest cryptocurrency, according to Coinglass, compared to 70% a day ago. This is even with a 21% drop in its price in the previous 24 hours.
Some Predictions validated why the merchants took that position. The well -known Credibull Crypto cryptocurrency analyst said the XRP price decreases before it works well again. “I still have more confidence than ever about XRP and its sustained excellence. This would be a short -term speed coup along the way, nothing more,” added the analyst.
Surprisingly, the expert said they assume a “variation” and not a “failure” below $ 1.80 before the next increase. On the other hand, the economic expert Jesse Colombo shared a negative perspective, indicating the decrease of XRP under his level of support.
Colombo predicted that the head and shoulder pattern suggests that it could return to 60 cents, completely reversing its recent increase.
The head and shoulder graph pattern shows a change from a positive tendency to a negative, indicating that an ascending trend is close to its end.
Why does it matter
These cases come during a substantial recession in the digital asset market.
The key assets, including Bitcoin and Ethereum, faced an extensive recession; This was mainly due to concerns about the tariff policies of President Donald Trump. The upper cryptocurrency, Bitcoin (BTC), fell to $ 75,000, its lowest point in five months.
XRP price action
At the time of reporting, XRP was negotiated at $ 1.65, 21.45% less in the previous 24 hours, according to data from Bitcoinik.com. So far this year, cryptocurrency has fallen by 18.92%.
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Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
