RATE Group | XRP Breaks Below Key Support Level as Analysts Eye Significantly Further Losses
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XRP Breaks Below Key Support Level as Analysts Eye Significantly Further Losses

21 Dec XRP Breaks Below Key Support Level as Analysts Eye Significantly Further Losses

Posted at 23:43h in Cryptocurrency News by

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XRP’s rough year just got a whole lot rougher, as it appears that its recent downturn has led it to break below a key support level against its Bitcoin trading pair that had previously been holding strong.

The break below this level has led it to visit another key support region that is the only thing stopping it from plummeting to fresh post-2017 bull run lows, which some analysts believe is a strong possibility in the near-term.

XRP Climbs from Intraday Lows, But Further Losses May Be Imminent

At the time of writing, XRP is trading up nearly 3% at its current price of $0.194, which marks a notable climb from its daily lows of $0.185 that were set earlier this morning concurrently with Bitcoin’s movement down towards $7,100.

XRP has been facing an insurmountable amount of selling pressure in recent times, which has caused it to plummet down to lows of $0.18 just in the past few days, which marked the lowest levels the cryptocurrency has traded…

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