Ripple (XRP) Crash Coming This Week? Analysts Warn Below $2.72 Risk

XRP is under pressure as it nears a key support level at $2.72. The token is trading around $2.85 after a drop of nearly 5% in the past 24 hours. Consequently, the move follows a clear rejection from overhead resistance, which has capped recent ￰0￱ Watching the $2.72 Support Level Crypto analyst Ali Martinez shared a chart showing XRP moving within a descending ￰1￱ pattern is defined by flat support at the bottom and lower highs pressing down from the ￰2￱ often signals a squeeze in price and a possible breakout once the structure is ￰3￱ is now sitting just above support. A move down to $2.72 would mark another test of this ￰4￱ buyers step in, XRP could bounce toward $3.

If not, a breakdown below $2.72 could open the door to lower ￰5￱ $2.72 level has held since July, making it a point of focus for ￰6￱ Brandt Flags Breakdown Trigger Market veteran Peter Brandt posted a side-by-side chart showing XRP’s current setup next to a similar pattern from ￰7￱ historical chart, showing Revere Copper & Brass, broke down after several failed attempts to move ￰8￱ compared the structure and noted , “ONLY IF it closes below 2.69 (then I’ll be a hater), then it should drop to 2.22.” In XRP’s case, the same setup appears to be ￰9￱ trigger level Brandt points to is $2.68743. If price closes below that line, it would confirm a breakdown and could lead to a fall toward $2.22.) Crash Coming This Week?

Analysts Warn Below $2.72 Risk appeared first on CryptoPotato .