XRP is at a crucial crossroads. A comprehensive review by Poseidon, a recognized crypto expert, offers insight into the coin’s future trajectory. Where is XRP going with the recent turbulence?
Let’s break down Poseidon’s prediction and analysis.
A look back at XRP’s performance
In its heyday, XRP stood out among its competitors and experienced a rapid rise, especially during market bubbles. However, a lawsuit against the coin caused an increase that was not sustained due to a lack of buyers.
XRP’s recent erratic behavior points to two key levels: $0.40 (the midpoint) and $0.28 (the lower limit). Poseidon predicts that XRP will soon drop to USD 0.40.
A glimpse of the weekly chart
The weekly chart shows the sudden rise in XRP, which was mainly driven by news events. A continued bullish trend would have seen the coin drop above its high range, but it appears to have stalled due to a lack of buyers.
The current scenario points to a potential decline towards the USD 0.40 level. Thereafter, a slight increase is expected, followed by a decline towards the USD 0.28 level. Poseidon emphasizes the volatile nature of the crypto market by saying, “This market is unforgiving.”
Read more: XRP price in turmoil after SEC vs. Ripple ruling: Does it get better from here?
Limitation: XRP’s daily outlook
The daily chart shows a series of rapid rises followed by slower, more painful declines. The rapid fall from the peak has left a gap, creating a period of uncertainty.
Poseidon says if XRP drops below $0.28, he would reconsider investing, aiming for a 15-fold return on a bullish run. While there is no certainty about the all-time high, the chances of XRP reaching $1 in a favorable bull market remain promising.
Currently, the market is waiting for its next move as XRP trades at USD 0.50 and is showing bearish signs both daily and weekly.