{"id":626704,"date":"2024-06-27T23:30:49","date_gmt":"2024-06-27T23:30:49","guid":{"rendered":"https:\/\/wncen.com\/?p=626704"},"modified":"2024-06-27T13:06:05","modified_gmt":"2024-06-27T13:06:05","slug":"xrp-is-in-trouble-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/xrp\/xrp-is-in-trouble-heres-why\/","title":{"rendered":"Crypto Analyst Says \u2018XRP Is In Trouble,\u2019 Here\u2019s Why"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-is-this-the-beginning-of-wildcard-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Crypto analyst Alessio Rastani<\/span><\/a><span style=\"font-weight: 400\"> has warned that XRP is in \u201ctrouble\u201d following his recent analysis of the chart. He outlined certain \u201cstrong warnings\u201d on the chart, which showed that the crypto token could experience <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-action-legal-expert\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">further price declines<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>Why XRP Is In Trouble<\/h2>\n<p><span style=\"font-weight: 400\">Rastani mentioned in a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=9p5TvGsykmI\" rel=\"nofollow\"><span style=\"font-weight: 400\">video<\/span><\/a><span style=\"font-weight: 400\"> on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-161800-target-fibonacci-elliott-wave-theory\/#:~:text=Examining%20Market%20Cycles%20With%20Elliott%20Wave%20Theory&amp;text=Elliott%20Wave%20Theory%20believes%20that,against%20it%20as%20corrective%20phases.&amp;text=Relationships%20with%20Fibonacci%20are%20everywhere%20in%20Elliot%20Wave%20Theory.\" rel=\"nofollow\"><span style=\"font-weight: 400\">Elliot Wave Theory<\/span><\/a><span style=\"font-weight: 400\">. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-spot-ethereum-etfs\/\">Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React?<\/a><\/div>\n<p><span style=\"font-weight: 400\">The crypto analyst also alluded to the the altcoin&#8217;s bounce in 2020, around the time the crypto token was <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-judge-deems-xrp-sale-non-investment-contract\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">declared a non-security<\/span><\/a><span style=\"font-weight: 400\">. He claimed that the rally then overlapped, which suggested it was a corrective bounce. He noted that these corrective rallies are bearish in nature as they usually resolve to the downside.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Rastani claimed that an impulsive rally is required for XRP to continue its uptrend. That is why he believes that XRP can still drop lower since the corrective rally from 2022 is still in play. The analyst also highlighted the support levels at $0.41 and $0.35 as crucial, stating that a break below those levels will serve as confirmation for the <\/span><a href=\"https:\/\/bitcoinist.com\/bill-morgan-warns-of-drastic-xrp-decline-to-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">downward move<\/span><\/a><span style=\"font-weight: 400\"> to $0.2 and $0.17. He added that XRP could even drop lower to $0.13.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, Rastani predicts that this move could take several months, stating that the crypto token could drop to these levels by year-end or sometime in 2025. He also said that the altcoin needs to stay below the <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-will-remain-flat-even-if-bitcoin-roars\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">resistance levels at $0.64<\/span><\/a><span style=\"font-weight: 400\"> and $0.74, as a break above those levels will invalidate his projections.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Rastani also highlighted the momentum indicator on XRP\u2019s chart, noting that there has been a lot of \u201cdownward negative momentum\u201d for XRP recently, suggesting that a downward move will likely occur. He claimed that the downward momentum hasn\u2019t been triggered yet, but he believes that it will soon happen, especially if the altcoin breaks below $0.35.\u00a0<\/span><\/p>\n<h2>An Alternative Move For Price<\/h2>\n<p><span style=\"font-weight: 400\">Rastani also outlined an <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-to-reach-1-68\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">alternative move<\/span><\/a><span style=\"font-weight: 400\"> that XRP could make if his projections are invalidated, although he doubts that will happen. He claimed that if XRP manages to break above $0.64 and $0.74, that would mean that the rally in 2022 was Wave A, and the recent drop to around $0.40 was Wave B, thereby setting up XRP for a <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-price-prediction-5000-30\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">move to around $1.40<\/span><\/a><span style=\"font-weight: 400\"> for Wave C.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-rapid-accumulation\/\">Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar<\/a><\/div>\n<p><span style=\"font-weight: 400\">The crypto analyst added that XRP could also <\/span><a href=\"https:\/\/wncen.com\/news\/ripple\/xrp-price-61000-surge-analyst\/\"><span style=\"font-weight: 400\">retest the 2021 highs<\/span><\/a><span style=\"font-weight: 400\"> at around $2. However, he claimed that would mean that the next move is still downward, suggesting that the alternative move isn\u2019t still bullish for XRP. He once again reaffirmed that the first scenario of XRP dropping <\/span><a href=\"https:\/\/bitcoinist.com\/3-things-holding-xrp-above-0-20-right-now\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">to as low as $0.13<\/span><\/a><span style=\"font-weight: 400\"> was likely to happen.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/HCX248u2\/\" alt=\"XRP price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">Token price rises toward $0.5 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst Alessio Rastani has warned that XRP is in \u201ctrouble\u201d following his recent analysis of the chart. He outlined certain \u201cstrong warnings\u201d on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020.\u00a0 Related Reading: Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React? The crypto analyst also alluded to the the altcoin&#8217;s bounce in 2020, around the time the crypto token was declared a non-security. He claimed that the rally then overlapped, which suggested it was a corrective bounce. He noted that these corrective rallies are bearish in nature as they usually resolve to the downside.\u00a0 Rastani claimed that an impulsive rally is required for XRP to continue its uptrend. That is why he believes that XRP can still drop lower since the corrective rally from 2022 is still in play. The analyst also highlighted the support levels at $0.41 and $0.35 as crucial, stating that a break below those levels will serve as confirmation for the downward move to $0.2 and $0.17. He added that XRP could even drop lower to $0.13. Meanwhile, Rastani predicts that this move could take several months, stating that the crypto token could drop to these levels by year-end or sometime in 2025. He also said that the altcoin needs to stay below the resistance levels at $0.64 and $0.74, as a break above those levels will invalidate his projections.\u00a0 Rastani also highlighted the momentum indicator on XRP\u2019s chart, noting that there has been a lot of \u201cdownward negative momentum\u201d for XRP recently, suggesting that a downward move will likely occur. He claimed that the downward momentum hasn\u2019t been triggered yet, but he believes that it will soon happen, especially if the altcoin breaks below $0.35.\u00a0 An Alternative Move For Price Rastani also outlined an alternative move that XRP could make if his projections are invalidated, although he doubts that will happen. He claimed that if XRP manages to break above $0.64 and $0.74, that would mean that the rally in 2022 was Wave A, and the recent drop to around $0.40 was Wave B, thereby setting up XRP for a move to around $1.40 for Wave C.\u00a0 Related Reading: Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar The crypto analyst added that XRP could also retest the 2021 highs at around $2. However, he claimed that would mean that the next move is still downward, suggesting that the alternative move isn\u2019t still bullish for XRP. He once again reaffirmed that the first scenario of XRP dropping to as low as $0.13 was likely to happen.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":626713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,10972,78763],"class_list":["post-626704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","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 Says \u2018XRP Is In Trouble,\u2019 Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Crypto analyst Alessio Rastani has 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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