Analyst Who Predicted XRP’s 100% Rally Expects a Deeper Crash

Although Bitcoin remains up on the year, XRP hasn’t fared as well; the third-largest cryptocurrency, per data from CoinMarketCap, is down over 40% from its $0.34 high seen in the middle of February, posting a small loss since the year started.

Unfortunately, analysts across the board only expect XRP to trend lower in the coming days, citing a flurry of scary technical signs.

XRP Could Fall Lower, Analysts Warn

Magic, a controversial and active crypto analyst, recently shared an extensive XRP analysis published to TradingView, sharing that the asset may be on its way to test the $0.15 to $0.16 region in the coming days — around 25% than the current market price of $0.20.

He explained in the post that the cryptocurrency has “clearly broken down from a head and shoulders pattern,” all while the asset has ” failed miserably to recover above the 61.8% Fibonacci retracement level.”

This, he claims is a sign that the cryptocurrency could fall to…