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XRP Price on a downtrend! A steep fall to $0.60 level expected

As XRP observes a downwards breakout from the consolidation channel, the bears dominate the asset’s price action, according to the Ripple price analysis.

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As XRP observes a downwards breakout from the consolidation channel, the bears dominate the asset’s price action, according to the Ripple price analysis. Despite the 15% drop, bearish pressure has not abated, and the price action continues to trend downwards.

As Ripple is continuing to head lower with no signs of recovery. It is being predicted XRP can fall as low as $1.60 level in days to come.

Reasons XRP could stoop

Preempted indications

Between August 13 and August 15, the price of XRP soared from $0.95 to $1.35. As a result of this run-up, sceptics and hesitant investors came out of the woodwork, and Ripple fell 18 percent to $1 in the weeks that followed.

The greedy buyers pushed XRP price to set up a swing high at $1.41, well above the August 15 swing high at $1.35. During the August 15 and September 6 peaks, the relative strength index (RSI) formed a lower low, resulting in a bearish divergence.

Collapse of support level

The recent breakdown of a stable support floor is the second and equally important cause. As markets fell today, the price of XRP sliced through the demand zone, ranging from $0.96 to $1.01.

This section of the barrier is critical because it has been in use since early April. Breaking below this level will turn it into a tough resistance level, preventing any short-term buying pressure from reclaiming it.

Furthermore, there is still a large gap between the current RSI level and the oversold zone, indicating that the remittance coin has not yet bottomed.

On chain metrics

By the end of the first week of September, the number of daily active addresses had risen to around 31,316. The number of investors interacting with the Ripple blockchain is decreasing as XRP declines.

This metric reached a lower high of 28,761 on September 17, representing an 8.15 percent decline in 11 days.

This decrease indicates that the market participants are uninterested in the prospects of XRP price right now and are likely converting/selling their holdings, leading to a downtrend.

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Source: https://coinpedia.org/price-analysis/xrp-price-on-a-downtrend-a-steep-fall-to-o-60-level-expected/

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Coinpedia

Crypto Market Is Swinging Again! Should You Buy Altcoins This Fall Season?

Traders on a war footing Q4, Altcoins are on priority. These Altcoins are away from the limelight of enthusiasts yet good buying option

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altcoin 2021

The fall season has brought enthusiasm along, for traders and enthusiasts in the crypto community. While the fourth quarter is nearing, investors have grabbed their shopping bags. This time around, altcoins seem to be a priority for buyers in the market.

Popular analyst lists some altcoins to his viewers. While some are top-tier coins, others are the lesser-known coins that are undervalued. They have been retracing tracks, back to their pre-crash levels. Consecutively, buyers are now showing interest in these coins.

Also Read: Will October Be a Hurdle or a Blessing in Disguise for Bitcoin(BTC) Price?

The Right Time to Buy?

Several coins in the market, are now on war footing momentum. Consecutively, some are holding stronger to the support levels, a few are consolidating. And a few are ready for breakouts. Market trends are hinting at a possible surge in buyers.

Coins like Kusama(KSM), Elrond (EGLD), Cardano (ADA) and Swipe(SXP), among others, are closer to their support levels. This relates, to the possibility, of an appropriate time to get in some of these coins. While they are trading lower than they possibly should. Expectations of positive trends are generally on the higher end for undervalued coins.

In addition, coins like ORN, VRA, ENJ, and ICX have seen a rebound from support levels. And are consolidating after a mighty run. Several coins are portraying higher lows and higher highs on the market charts. The fact that the ALT coins performing exceptionally well with little or no publicity. Is fathoming interests among investors and traders in the space.

Collectively, it is arguably an appropriate time to grab some coins before the buying pressure creeps in. As a number of coins are either closer to their support levels or consolidating post momentum. It is worth stressing that the analysis is from press time. We can expect the movements of prices in the range of 10-20% provided the situation favours the altcoin. It is rightly said, that one must look out for support levels across the market for purchases.

Also Read: Solana Price Struggling To Sustain Above Resistance, Yet Aims At 20% Upswing!

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Photo of Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

Source: https://coinpedia.org/price-analysis/crypto-market-is-swinging-again-should-you-buy-altcoins-this-season/

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Coinpedia

XRP Price Could Extend Correction Before Fresh Rise!

XRP/USD trading pair surpassed the $1.05 level, but it failed to break the $1.08 resistance and the price is now correcting lower.

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xrp parabolic

Despite a minor drop in the last 24 hours, the cryptocurrency market saw significant gains over the weekend. The XRP coin is currently trading in the green, with a strong bullish trend emerging from the lower levels. XRP price increased in value from 96 cents to $1 on Friday. It is currently trading at $1.03.

XRP Price Action:

Ripple’s XRP plummeted to an intraday low of $1.02 this morning before making a rise, tracking the overall market. The altcoin soared to a late intraday high of $1.09 after staying clear of the first key support level around $1.0074.

XRP/USD trading pair surpassed the $1.05 level, but it failed to break the $1.08 resistance and the price is now correcting lower.

There was a break below the $1.05 level. On the downside, initial support is near the $1.020 followed by the $0.9800 level.

trading view

The 7th largest crypto might hit resistance at $1.15 before any reversal if the coin continues to climb. The $1.1224 level is the second significant resistance level.

In case, XRP price rebounds and breaks the initial hurdle is near the $1.05 level, The next key resistance is near the $1.08 level. A close above the $1.08 could set the pace for more gains.

However, XRP/USD should avoid falling below $0.95 unless there is a prolonged sell-off. The downside should be limited by the second major support level at $0.9889.

Also Read : Green Cardano Could Rise ADA Price As High As $10, But When?

XRP Network Activity:

There is a spike in XRP network activity due to huge whale transfers. On October 2 XRP accounts began transferring the world’s 7th most valuable digital asset from crypto wallets to exchanges. Whale Alert, a well-known blockchain tracking service, has revealed a $41 million transaction involving the transfer of 40 million XRP coins.

In a different transaction 15 million XRP we’re transferred from an unknown wallet to Binance.

On October 3, 2021, the XRP millionaire wallet completed a transaction for $20.9 million in a separate transaction. The crypto whale sent 20 million coins from an undisclosed wallet to Coinsph.

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Photo of Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks.She likes pets and shares her free time with NGO.

Source: https://coinpedia.org/price-analysis/xrp-price-could-extend-correction-before-fresh-rise/

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Coinpedia

COTI Price soared by more than 25% in the last 24 hours. How high will the token rise?

Despite the crypto market’s steep decline, a few tokens appeared to do far better than the rest of the market. Coti is the cryptocurrency that is now

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Despite the crypto market’s steep decline, a few tokens appeared to do far better than the rest of the market. Coti is the cryptocurrency that is now quite bullish. Returning to all-time highs. COTI hit a low of $0.29 on Thursday, September 10th, and has been steadily rising since then. COTI is currently trading at $0.44, a 23.2% percent increase in the last 24 hours.

COTI is a cryptocurrency that does things a little differently. Its main purpose is to help businesses develop their own payment solutions while also allowing them to digitise their own currencies, and it has the infrastructure to do so.

New ATH on the way?

COTI has had a crazy journey in 2021. By March 23, the coin had risen from $0.047 in January to $0.5730. It then fell in step with the rest of the cryptocurrency market, reaching a low of $0.0892 in July as it bottomed out.

However, ahead of its exchange listings in August, it soared to a high of $0.4854, and it has since traded over $0.3. Although Coti could be on the verge of challenging the $0.50 bull flag high and pursuing ATH at $0.60. Following the breach, the token may soar to a new ATH of $1.

COTI’s stock has soared due to online anticipation that a major announcement will be made during the #CardanoSummit2021. COTI will unveil a brand-new product that will blow your mind. For much too long, it was undervalued.

Following the publication of the COTI treasury technology whitepaper and the tokens’ inclusion on crypto.com, the price of COTI has recovered.

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Photo of Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks.She likes pets and shares her free time with NGO.

Source: https://coinpedia.org/price-analysis/coti-price-soared-by-more-than-25-in-the-last-24-hours-how-high-will-the-token-rise/

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