RATE Group | Analyst: Ripple’s XRP Could Fall by Another 25% Due to This Reason
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Analyst: Ripple’s XRP Could Fall by Another 25% Due to This Reason

25 Feb Analyst: Ripple’s XRP Could Fall by Another 25% Due to This Reason

Posted at 15:15h in Cryptocurrency News by

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XRP, the native token of the Ripple blockchain, has slipped by more than 23 percent from its year-to-date high of $0.34. And according to a popular analyst, the token is likely to fall further.

Full-time trader Bleeding Crypto highlighted XRP’s bearish potential in a tweet published earlier Tuesday. He noted that the cryptocurrency’s spot rate could move lower to fill gaps left open by its futures contracts, drawing comparisons from similar phenomena in bitcoin markets.

Bleeding Crypto exemplified his prediction in a chart that showed four unfilled futures gaps. The nearest blank area coincided with the $0.251 level whilst the deepest one was near $0.203. Considering XRP would continue declining to fill the last gap in the queue, its move downhill would take the crypto down by up to 25 percent.

ripple, xrp, cryptocurrency

Ripple (XRP) heading lower to fill futures gaps | Source: Bleeding Crypto

“There are 4 more gaps lower to go. If you don’t think it will get filled, please load up now. My Gap theory has…

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