Bloody Crypto Week Watch XRP Plunge Severely! - Kakiforex | Forex markets for the smart money. Bloody Crypto Week Watch XRP Plunge Severely! Bloody Crypto Week Watch XRP Plunge Severely!

May 21, 2021

Bloody Crypto Week Watch XRP Plunge Severely!

 The cryptocurrency market went crazy again yesterday! Are the crypto hodlers still steady?


It was only a matter of time before XRP gave joy to XRP’s hardcore investors, who saw a spike to the $ 1.70 price level just after the INTRADAY team published an article XRP would make a higher rise on May 18th.


Following yesterday’s trading opening, XRP continued to make lower declines all the way below the $ 1.0 price level!


On the XRP/USDT chart, the price has plunged more than 50% since reaching a high around the $ 1.97 level on April 14. That level is also the latest highest level ever recorded after 3 years.


The $ 1.0 price level will be the support level which is used as a signal zone whether the price will make a rebound or make a further decline.



If the price continues to make lower declines, the price level around $ 0.5 - $ 0.7 will be the next benchmark that needs to be tested. The previous level was a difficult resistance level to break in February and March trading before the price made a higher jump at the April market opening.


Crypto market analysts predict that the decline made by XRP and other cryptocurrencies is a correction in the current price movement of the market.


This can be seen in the XRP chart where the price has jumped over 800% since the opening of the market in 2021. So it’s no surprise for prices to make a 50% decline this month ahead of expectations of a more drastic rise.


Importantly XRP hardcore investors are still not at a loss as long as they do not sell their holdings despite having bought at a high price level.