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Crypto Crypto Paradise analyst broke hopes for an upward trend for The XRP price in the short term. This came after his prediction that Altcoin could attend a massive accident at a major level of support.
The analyst predicts the XRP price crash at $ 1.6
In a TradingView PostCrypto Paradise predicted that the XRP price could crash at the support level at $ 1.6. It came because he suggested that a Huge lowering trap could take place now for XRP. This means that Altcoin will simply be corrected to shake the bears, then attend a bullish reversal.
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However, in the short term, the analyst warned that the XRP price flashes serious warning signs. He underlined the formation of a Mountain corner modelwhich increases the probability of a lower movement. Crypto Paradise also noted that when analyzing the wider market structure, the recent upward trend seems to be a retrace in the largest downward trend. As such, the probability of an imminent decline is still very high.
He said that if the XRP price rebounds, enters liquidity and begins to form clear lower base models from The resistance zone Between $ 2.4 and $ 2.5, it could set up an excellent opportunity with a high -reward risk ratio (RR) for shorts. However, this lower thesis will be invalidated if the price clearly bursts and closes a candle above the resistance zone.
If this happens, Crypto Paradise thinks that it would be much smarter to stay patient and wait for a more reliable XRP price action configuration before considering new professions. The analyst also urged market players to remain disciplined, patient and intelligent. He added that it is better to stick to the plan and never rush decisions under emotional pressure.
A bullish prediction for Altcoin
In a post X, Crypto Ali Martinez analyst Provides a bullish perspective for the XRP price. He said Altcoin seemed to come out of an opposite head and shoulder model, with a potential increase between $ 2.70 and $ 2.90. A gathering of this $ 2.90 lens could open the way to another rally to a new ATH for Altcoin.
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Crypto analyst Joe also said that the XRP prize looked optimistic. He noted that the reverse breeze of the head and shoulders had been confirmed, while a Haussier corner breakout is obvious on the graphics. The resistance of the keys has also been overthrown to support and a higher hollow formed. In accordance with this, the analyst noted that the momentum accumulates for a solid movement.
At the time of writing writing, the XRP price is negotiated at around $ 2.28, down in the last 24 hours, according to data from CoinMarketCap.
Adobe Stock star image, tradingView.com graphic
