Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst TradinSides has suggested that it might be time for investors to start closing their XRP long positions. This came as the analyst revealed a bearish pattern, which showed that the XRP price could witness a significant crash.\u00a0 XRP Price Could Crash As Head And Shoulder Pattern Forms In a TradingView post, TradinSides predicted that XRP could crash as the price could form the Head and Shoulders pattern, driving the crypto to $2.2 or below. The analyst stated that this price correction could happen if some bullish fundamentals don\u2019t happen for the altcoin as expected. The fundamentals that TradinSides cited include the RLUSD stablecoin and the upcoming XRP ETFs.\u00a0 Related Reading: Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH While these fundamentals present a bullish outlook for the XRP price, the crypto analyst stated that XRP still stands under heavy selling pressure due to the SEC\u2019s decision to appeal the Ripple case ruling, which is impacting demand and market sentiment. TradinSides alluded to SEC Commissioner Caroline Crenshaw\u2019s reappointment and how it could ultimately impact the Ripple case and the XRP price.\u00a0 The analyst noted that Crenshaw\u2019s reappointment is set for December 18. However, if Crenshaw\u2019s renomination fails, Donald Trump could nominate a new Commissioner. Crenshaw\u2019s renomination is significant as the SEC must file its opening brief in the appeal case on January 15.\u00a0 If she is reappointed, she could vote in favor of the Commission filing its opening brief since she has been known to take an anti-crypto stance on several occasions. The crypto analyst believes the altcoin could face selling pressure if the SEC pursues the appeal.\u00a0 On the other hand, if the SEC withdraws its appeal, TradinSides predicts that the Commission could also withdraw its appeal. This would lead the agency to approve the pending XRP ETF applications, which could drive demand up. If this doesn\u2019t happen, the crypto analyst predicts that the Head and Shoulders pattern could drive the XRP price to $2.2. The State Of Things In an X post, crypto analyst Dark Defender provided an update on the current XRP price action. He stated that the 4-hour time frame confirms the break for XRP. The analyst added that the daily time frame will be confirmed above $2.52. Once XRP breaks above that level, Dark Defender predicts that the altcoin will then rally to $2.72.\u00a0 Related Reading: Dogecoin Fails To Follow Bitcoin\u2019s Recent Uptick: Is A New ATH Still Feasible This Cycle? The crypto analyst also highlighted crucial targets to watch out for. He stated that $5.85 and $8.76 are short-term targets. Meanwhile, he mentioned that $2.29, $2.24, $2.10, and $2.02 are support levels to watch out for. Dark Defender has before now predicted that the XRP price would eventually reach $18 in this market cycle.\u00a0 At the time of writing, the XRP price is trading at around $2.41, up in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":646110,"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-662907","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
Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n