{"id":568567,"date":"2024-01-08T23:00:04","date_gmt":"2024-01-08T23:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=568567"},"modified":"2024-06-11T08:14:03","modified_gmt":"2024-06-11T08:14:03","slug":"xrp-bear-flag-massive-crash","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-bear-flag-massive-crash\/","title":{"rendered":"Crypto Analyst Identifies XRP Bear Flag To Trigger A Massive Crash To $0.07"},"content":{"rendered":"<p class=\"p2\">XRP, like the rest of the crypto market, is seeing an active retrace that has sent prices back toward levels not seen since last year. As anticipation around a potential Bitcoin Spot ETF approval builds up for this week, expectations are that this retrace will be short-lived. However, not everyone is bullish on a potential recovery as one crypto analyst expects the price of <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-will-cross-1-56\/\">the altcoin<\/a> to see a massive crash going forward.<\/p>\n<h2 class=\"p2\">XRP Massive Bear Flag Appears<\/h2>\n<p class=\"p2\">Crypto analyst Bitgolder took to TradingView to <a href=\"https:\/\/www.tradingview.com\/chart\/XRPUSD\/dcppffnr-XRP-MASSIVE-BEAR-FLAG-ABOUT-TO-PLAY-OUT-TO-16-CENTS\/\" rel=\"nofollow\">share<\/a> an extremely bearish analysis of the XRP price. This analysis identifies the presence of a bear flag, one of the worst ones seen in the altcoin\u2019s chart in recent times.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/3-under-the-radar-altcoins-100\/\">3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving<\/a><\/div>\n<p class=\"p2\">As Bitgolder explains, the XRP price chart looks very bad, leading to the obvious bear flag. Some of the reasons for the formation of this bear flag are the fact that there has been a volume drop over the last week, as well as a decline in interest from investors as the altcoin has failed to live up to expectations following <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-up-today-ripple\/\">Judge Analisa Torres\u2019s<\/a> ruling that <a href=\"https:\/\/wncen.com\/crypto\/top-5-events-crypto-2023\/\">programmatic XRP sales do not qualify as securities<\/a>.<\/p>\n<p class=\"p2\">The crypto analyst explained that the recent price bounce that the coin\u2019s price saw over the last few weeks was in fact not bullish. Rather, it \u201cwas just an extended bounce for wave B of this correction from XRP top.\u201d The analyst is also convinced of the weakness being exhibited by XRP, especially given the fact that <a href=\"https:\/\/wncen.com\/analysis\/xrp\/crypto-analyst-predicts-bullish-hammer-for-xrp-in-upcoming-move\/\">the altcoin<\/a> has failed to make a new all-time high in the last bull market while other coins were rallying.<\/p>\n<p class=\"p2\">Bitgolder warns investors of a slow bleed that is coming for the XRP price despite how bullish the community seems to be. \u201cIt\u2019s going to take a while to bleed out because of how many bag holders there are and how much silly YouTubers keep pumping this thing,\u201d Bitgolder warned. \u201cIt\u2019s unfortunate that many are going to lose their shirts on this thing.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/EQLds5Ml\/\" alt=\"XRP price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">Token price struggles below $0.6 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSD on Tradingview.com<\/a><\/pre>\n<h2 class=\"p2\">Price Crash To \u2018Single Digit Pennies\u2019<\/h2>\n<p class=\"p2\">Following the slow bleed-out predicted by Bitgolder, the analyst also expects a further dump that will take the price even lower, even down into the single-digit pennies. The chart shared in the analysis shows an initial decline to $0.39. But then a further dump puts the <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-will-cross-1-56\/\">XRP price as low as $0.07.<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/i\/dcppffnr\/\" alt=\"XRP price chart from Tradingview.com \" width=\"1829\" height=\"882\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/www.tradingview.com\/chart\/XRPUSD\/dcppffnr-XRP-MASSIVE-BEAR-FLAG-ABOUT-TO-PLAY-OUT-TO-16-CENTS\/\" rel=\"nofollow\">Tradingview.com<\/a><\/pre>\n<p class=\"p2\">The reason behind this dump, according to the analyst, will be the fact that the <a href=\"https:\/\/wncen.com\/xrp-news\/pro-xrp-expert-sec-ripple\/\">United States Securities and Exchange Commission (SEC)<\/a> will eventually win out over <a href=\"https:\/\/wncen.com\/analysis\/xrp\/events-impact-on-xrp-price\/\">Ripple<\/a> in court. Bitgolder believes that XRP will eventually be considered an unregistered security. Either that or the US SEC will file another lawsuit against <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-ripple-1-5-trillion\/\">the crypto firm<\/a>, which will lead to investors eventually losing faith and dumping their coins.<\/p>\n<blockquote>\n<p class=\"p2\">I used to think that maybe XRP could do some amazing things but after doing more research and looking into on chain metrics I am now convinced this was the biggest pump and dump in history.<\/p>\n<\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/100-surge-for-shiba-inu\/\">Crypto Analyst Predicts 100% Surge For Shiba Inu, But There\u2019s A Roadblock<\/a><\/div>\n<p class=\"p2\">However, the analyst also points out that it may not be a straight dump as XRP could still shoot back up to the $0.7 territory once more, which is the top of the bear flag. But Bitgolder refers to this surge as a takeout that would see the rug pulled from under investors once more. \u201cIt is hitting some really strong resistance right now so I&#8217;m not sure if it can actually break through this,\u201d the analyst concluded.<\/p>\n<div class=\"disclaimer-shortcode\"><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\">Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Siam Blockchain, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>XRP, like the rest of the crypto market, is seeing an active retrace that has sent prices back toward levels not seen since last year. As anticipation around a potential Bitcoin Spot ETF approval builds up for this week, expectations are that this retrace will be short-lived. However, not everyone is bullish on a potential recovery as one crypto analyst expects the price of the altcoin to see a massive crash going forward. XRP Massive Bear Flag Appears Crypto analyst Bitgolder took to TradingView to share an extremely bearish analysis of the XRP price. This analysis identifies the presence of a bear flag, one of the worst ones seen in the altcoin\u2019s chart in recent times. Related Reading: 3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving As Bitgolder explains, the XRP price chart looks very bad, leading to the obvious bear flag. Some of the reasons for the formation of this bear flag are the fact that there has been a volume drop over the last week, as well as a decline in interest from investors as the altcoin has failed to live up to expectations following Judge Analisa Torres\u2019s ruling that programmatic XRP sales do not qualify as securities. The crypto analyst explained that the recent price bounce that the coin\u2019s price saw over the last few weeks was in fact not bullish. Rather, it \u201cwas just an extended bounce for wave B of this correction from XRP top.\u201d The analyst is also convinced of the weakness being exhibited by XRP, especially given the fact that the altcoin has failed to make a new all-time high in the last bull market while other coins were rallying. Bitgolder warns investors of a slow bleed that is coming for the XRP price despite how bullish the community seems to be. \u201cIt\u2019s going to take a while to bleed out because of how many bag holders there are and how much silly YouTubers keep pumping this thing,\u201d Bitgolder warned. \u201cIt\u2019s unfortunate that many are going to lose their shirts on this thing.\u201d Token price struggles below $0.6 | Source: XRPUSD on Tradingview.com Price Crash To \u2018Single Digit Pennies\u2019 Following the slow bleed-out predicted by Bitgolder, the analyst also expects a further dump that will take the price even lower, even down into the single-digit pennies. The chart shared in the analysis shows an initial decline to $0.39. But then a further dump puts the XRP price as low as $0.07. Source: Tradingview.com The reason behind this dump, according to the analyst, will be the fact that the United States Securities and Exchange Commission (SEC) will eventually win out over Ripple in court. Bitgolder believes that XRP will eventually be considered an unregistered security. Either that or the US SEC will file another lawsuit against the crypto firm, which will lead to investors eventually losing faith and dumping their coins. I used to think that maybe XRP could do some amazing things but after doing more research and looking into on chain metrics I am now convinced this was the biggest pump and dump in history. Related Reading: Crypto Analyst Predicts 100% Surge For Shiba Inu, But There\u2019s A Roadblock However, the analyst also points out that it may not be a straight dump as XRP could still shoot back up to the $0.7 territory once more, which is the top of the bear flag. But Bitgolder refers to this surge as a takeout that would see the rug pulled from under investors once more. \u201cIt is hitting some really strong resistance right now so I&#8217;m not sure if it can actually break through this,\u201d the analyst concluded. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Siam Blockchain, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":568592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,10972,78763],"class_list":["post-568567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Identifies XRP Bear Flag To Trigger A Massive Crash To $0.07<\/title>\n<meta name=\"description\" content=\"XRP, like the rest of the 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