{"id":397105,"date":"2019-09-25T19:00:51","date_gmt":"2019-09-25T19:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=397105"},"modified":"2024-06-11T13:25:48","modified_gmt":"2024-06-11T13:25:48","slug":"xrp-breaks-below-bear-market-bottom-will-the-rest-of-crypto-follow","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-breaks-below-bear-market-bottom-will-the-rest-of-crypto-follow\/","title":{"rendered":"XRP Breaks Below Bear Market Bottom, Will The Rest of Crypto Follow?"},"content":{"rendered":"

Yesterday, the leading crypto asset by market cap, Bitcoin<\/a>, broke down from its multi-month trading range, crashing over 15% and dragging already battered altcoins like XRP<\/a> and Ethereum<\/a> down further with it.\u00a0<\/span><\/p>\n

The fallout was enough to not only completely erase the most recent \u201calt season<\/a>\u201d gains XRP and Ethereum experienced, but it also caused XRP to set a new bear market low causing many to fear that the rest of the market may follow.<\/span><\/p>\n

Bitcoin Crash Cripples Ripple’s XRP, New Bear Market Lows Reached<\/h2>\n

Once Bitcoin price left what many believe was its bear market bottom behind, the influx of investors and traders fearing missing out on the lowest possible prices buying up the scarce asset caused it to immediately go parabolic once again, and within months rose over 300% before it began to correct.<\/span><\/p>\n

Related Reading | Altcoins Set Fresh Yearly Lows Against Bitcoin, XRP and TRX Worst Performers<\/a><\/strong><\/em><\/p>\n

But elsewhere in the crypto market, altcoins have been far less bullish than Bitcoin, and could be a leading indicator as to what happens next for Bitcoin. Altcoins, such as XRP or Ethereum, all topped out ahead of Bitcoin and began to crash back down toward their bear market bottoms.<\/span><\/p>\n

https:\/\/twitter.com\/cryptoamd\/status\/22121216?s=21<\/p>\n

Yesterday, Bitcoin<\/a> finally broke down from its trading range, and dragged the USD value of most altcoins down with it. Included in the destruction, was XRP. Ripple\u2019s native crypto asset not only plummeted alongside Bitcoin, but it set a new bear market low in USD value<\/a>.<\/span><\/p>\n

Has the Crypto Market Actually Bottomed?<\/h2>\n

XRP<\/a> reaching yet another new bear market low should strike fear into the hearts of all crypto investors, as the rest of the crypto market may soon follow in setting fresh cycle lows before the bull run truly begins.<\/span><\/p>\n

XRP recently rallied alongside other altcoins like Ethereum<\/a>\u00a0in what many were calling an \u201calt season<\/a>.\u201d But that rally was not only erased in a flash, XRP is at risk of setting its lowest price in years.<\/span><\/p>\n

Related Reading | Will Upcoming Ripple Conference Cause XRP Price to Swell?<\/a><\/strong><\/em><\/p>\n

Not even Ripple\u2019s Swell conference, which has caused the price of the XRP token to skyrocket in previous years<\/a>, was able to have a noticeable effect on the constant sell pressure being applied by Ripple\u2019s team as well as capitulating bagholders who bought the asset at prices over $3 at the height of the crypto hype bubble.<\/span><\/p>\n

https:\/\/twitter.com\/ChonkyOne\/status\/80439808<\/p>\n

With the rest of the crypto market – and even Bitcoin<\/a> \u2013 now trending back down, crypto traders and investors are starting to fear the worst: that the bear market isn\u2019t over, and Bitcoin\u2019s bottom around $3,000 wasn\u2019t actually the bottom. Sentiment and interest in crypto markets is at extreme lows, but things can always get worse before they get better.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Yesterday, the leading crypto asset by market cap, Bitcoin, broke down from its multi-month trading range, crashing over 15% and dragging already battered altcoins like XRP and Ethereum down further with it.\u00a0 The fallout was enough to not only completely erase the most recent \u201calt season\u201d gains XRP and Ethereum experienced, but it also caused XRP to set a new bear market low causing many to fear that the rest of the market may follow. Bitcoin Crash Cripples Ripple’s XRP, New Bear Market Lows Reached Once Bitcoin price left what many believe was its bear market bottom behind, the influx of investors and traders fearing missing out on the lowest possible prices buying up the scarce asset caused it to immediately go parabolic once again, and within months rose over 300% before it began to correct. Related Reading | Altcoins Set Fresh Yearly Lows Against Bitcoin, XRP and TRX Worst Performers But elsewhere in the crypto market, altcoins have been far less bullish than Bitcoin, and could be a leading indicator as to what happens next for Bitcoin. Altcoins, such as XRP or Ethereum, all topped out ahead of Bitcoin and began to crash back down toward their bear market bottoms. https:\/\/twitter.com\/cryptoamd\/status\/22121216?s=21 Yesterday, Bitcoin finally broke down from its trading range, and dragged the USD value of most altcoins down with it. Included in the destruction, was XRP. Ripple\u2019s native crypto asset not only plummeted alongside Bitcoin, but it set a new bear market low in USD value. Has the Crypto Market Actually Bottomed? XRP reaching yet another new bear market low should strike fear into the hearts of all crypto investors, as the rest of the crypto market may soon follow in setting fresh cycle lows before the bull run truly begins. XRP recently rallied alongside other altcoins like Ethereum\u00a0in what many were calling an \u201calt season.\u201d But that rally was not only erased in a flash, XRP is at risk of setting its lowest price in years. Related Reading | Will Upcoming Ripple Conference Cause XRP Price to Swell? Not even Ripple\u2019s Swell conference, which has caused the price of the XRP token to skyrocket in previous years, was able to have a noticeable effect on the constant sell pressure being applied by Ripple\u2019s team as well as capitulating bagholders who bought the asset at prices over $3 at the height of the crypto hype bubble. https:\/\/twitter.com\/ChonkyOne\/status\/80439808 With the rest of the crypto market – and even Bitcoin \u2013 now trending back down, crypto traders and investors are starting to fear the worst: that the bear market isn\u2019t over, and Bitcoin\u2019s bottom around $3,000 wasn\u2019t actually the bottom. Sentiment and interest in crypto markets is at extreme lows, but things can always get worse before they get better. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":397109,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,16894],"tags":[15377,428,6664,1946,3680,4531],"class_list":["post-397105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ripple","tag-atlcoins","tag-bitcoin","tag-crypto","tag-ethereum","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nXRP Breaks Below Bear Market Bottom, Will The Rest of Crypto Follow?<\/title>\n<meta name=\"description\" content=\"Yesterday, the leading crypto asset by market cap, Bitcoin, broke down from its multi-month trading range, crashing over 15% and dragging already battered\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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