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$ BTC $96,271 +3.90% ETH $3,634 +8.05% BNB $653 +5.97% SOL $244 +5.60% XRP $1.48 +6.95% TON $6.46 +5.02% * English * Advertise * About News Bitcoin Ethereum Altcoins Blockchain Business Policy & Regulations AI NFTs DeFi Adoption Markets Market News Market Analysis Top 10 Cryptocurrencies Calculator Heatmap Rankings Price Indices Memecoins Crypto Exchanges Magazine People Top 100 2023 Top 100 2022 Top 100 2021 Top 100 2020 Opinion Expert Take Interview Learn Research Podcasts Ad Yashu Gola 9 hours ago IS XRP PRICE GOING TO CRASH AGAIN? XRP could crash by 25% in the worst case scenario, particularly due to its overbought conditions that have preceded similar price crashes. 13670 Total views 10 Total shares Listen to article 4:14 Altcoin Watch COINTELEGRAPH IN YOUR SOCIAL FEED Follow ourSubscribe on * * * * * * * * XRP XRP $1.47 has dropped by over 17% four days after reaching a multi-year high of around $1.63, trading at around $1.41 as of Nov. 27. On a month-to-date basis, however, the cryptocurrency is maintaining its “Trump Trade” profits, up by almost 180% in its best month since April 2021. OVERBOUGHT XRP SIGNALS 25% DUMP BY DECEMBER XRP’ss relative strength index (RSI) levels has been above 70 on the daily chart throughout November, signaling potential exhaustion of its ongoing uptrend. Historical data highlights XRP's tendency to correct sharply after reaching overbought RSI levels. For instance, in June 2023, XRP's daily RSI surpassed 85 during a rally to $0.82, after which the price dropped by 46.5% in less than two months, bottoming out at $0.43. Similarly, following an RSI spike above 70 in November 2023, XRP fell by 33.6% over the next several weeks, retreating from $0.65 to $0.43. XRP/USD daily price chart. Source: TradingView Current price levels also align with Fibonacci retracement extensions. XRP's recent breakout surpassed the 2.618 Fibonacci extension near $1.09, now proving to be a strong resistance level, and raising XRP’s potential to drop toward the $1 level, which coincides with the 1.618 Fibonacci extension, by December. If a correction occurs, the $1 psychological level could act as a short-term floor. A deeper pullback, however, may revisit the 50-day exponential moving average (EMA) near $0.85, aligning with previous Fibonacci support levels. Interestingly, XRP’s correction coincides with a slight drop in the supply held by its richest investors, namely those holding over 100,00 tokens. XRP supply in addresses with balance over 100,000 tokens. Source: Messari A decline in whale holdings could indicate a shift from an accumulation phase to a distribution phase. Whales often accumulate tokens during periods of consolidation or low volatility. When prices spike, they distribute their holdings to retail buyers chasing the rally. XRP LONG-TERM METRICS HINT AT BULLISH MOMENTUM Switching to weekly price chart shows XRP in a long-term uptrend stage after breaking out of its giant symmetrical triangle pattern. Notably, XRP broke out of the triangle pattern in late October for the first time in seven years. This technical move resembles a similar breakout that preceded XRP’s historic 43,650% rally in 2017-2018. XRP/USD six-week price performance. Source: TradingView The current breakout also displays similar fractal behavior, with XRP reclaiming key levels at the 0.5 Fibonacci retracement (~$1.78) and now targeting higher extensions. If the fractal holds true, XRP could attempt to retest its 2018 peak near $3.41, while a long-term projection could target the 4.236 level at $13.93. Fundamentals support a prolonged bull run. For instance, Donald Trump’s reelection could assist ending the long-running SEC versus Ripple battle. Additionaly, Ripple’s recent partnership with UK-based FCA-regulated digital asset exchange Archax to launch a tokenized money market fund on the XRP Ledger could further boost XRP adoption. Related: Ripple to invest in rebranded Bitwise XRP ETP However, the 6-week RSI has climbed to 70, a threshold that historically precedes short-term corrections or periods of consolidation. A pullback to retest the triangle's upper trendline, now near $1.00, cannot be ruled out. The $1 target aligns with the daily chart analysis above. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Explore more articles like this Subscribe to the Markets Outlook newsletter Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday Subscribe By subscribing, you agree to our Terms of Services and Privacy Policy * #Altcoin * #XRP * #Tech Analysis * #Market Analysis * #Altcoin Watch 1 1 Read more * Huge ‘screw-up’ — Pump Science apologizes after flood of fraud tokens * ad Celebrating the best in NFT with Jason Derulo: Highlights from award ceremony * Altseason delayed due to lack of fresh retail capital — Ki Young Ju Ad Editor’s Choice * Tether discontinues support for euro-pegged stablecoin EURt * Bitcoin demands $95K reclaim as six-figure BTC price calls return * How to upset Cardano’s Charles Hoskinson by quoting him accurately * Digital money lag threatens international security * Big victory in Tornado Cash case as judge says OFAC exceeded authority Cointelegraph YouTube Subscribe Ad Ad Ad Advertise with us Ad Take back your safety in Web3 Web3 Antivirus does not endorse any content or product on this button. 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