RATE Group | XRP Poised to Plunge Further? Price Prints Bearish Pattern
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XRP Poised to Plunge Further? Price Prints Bearish Pattern

03 Jan XRP Poised to Plunge Further? Price Prints Bearish Pattern

Posted at 01:04h in Ethereum News by

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XRP had far from a positive 2019, with the price of the leading cryptocurrency dropping by 50% over the course of 12 months while Bitcoin gained 90% or so.

And while investors in the digital asset presumably want 2020 to be much better, the year’s already starting off red.

On Thursday, January 2nd, the price of cryptocurrencies across the board sunk by 3%, with Bitcoin, Ethereum, XRP, and so on and so forth all posting losses after stagnating in a tight price range for weeks on end.

Livercoin, a prominent cryptocurrency trader, recently noted that this latest bout of price action has resulted in a bearish pennant, formed over the past few weeks, breaking down, implying that further bearish price action could come in the following weeks.

According to Capo of Crypto, a popular cryptocurrency analyst, this pennant breakdown implies that the cryptocurrency…

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