RATE Group | XRP “Floating in Outer Space,” Price in Serious Downtrend: Analyst
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XRP “Floating in Outer Space,” Price in Serious Downtrend: Analyst

26 Dec XRP “Floating in Outer Space,” Price in Serious Downtrend: Analyst

Posted at 04:51h in Cryptocurrency News by

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Although the bullish case for Bitcoin (BTC) has started to grow over the past few days, analysts have asserted that XRP’s trend is decidedly negative. After all, the third-largest altcoin, despite it being backed by a $10 billion company, has collapsed by 50% in the past 12 months, making it one of the worst-performing cryptocurrencies in the entire market.

XRP Price’s Trend Still Decisively Downward

Joe Saz, a cryptocurrency analyst and contributor to industry media outlet BlockTV, recently sat down for the outlet for an interview, explaining his latest thoughts on the cryptocurrency market just yesterday.

He remarked that at $0.192, XRP is currently “floating in outer space,” meaning without any notable support nearby, and remains in a very serious downtrend (a descending channel, to be exact), implying that there will be bearish price action over the coming days and weeks.

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