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An analyst is expressing apprehension regarding the price movement of XRP, cautioning that the cryptocurrency may be on the brink of a significant decline.
A bearish price pattern is forming on the charts, which, if confirmed, could result in a significant selloff. This is the source of the jitters, crypto analyst Steph said. Some traders are now of the opinion that the future of XRP is contingent upon its ability to maintain a critical support level.
Head And Shoulders Pattern Causes Concern
The chart of XRP is exhibiting a typical Head and Shoulders pattern, which is a widely recognized indicator of a potential decline. The support line for this formation is $2, which is the critical level to monitor. In other words, XRP is on a freefall, according to Steph.
#XRP HUUUUUGE WARNING!!!!!!!!! pic.twitter.com/lllwRykRsN
— STEPH IS CRYPTO (@Steph_iscrypto) March 10, 2025
The pattern may result in additional losses if XRP descends below this threshold. The analyst, Steph, is of the opinion that this could result in XRP entering a downward trajectory, which would erase recent gains and test lower price levels. Some market observers concur, asserting that a decline below $2 could potentially lead to a price of $1.80 or lower.
Market Pains: XRP Down 11%
XRP is already under lot of pressure. In the last seven days, the altcoin has sustained an 11% loss. XRP is not impervious to the selloff; the overall crypto market has been having some headaches. Investors are keeping a careful eye on the matter since any protracted drop below $2 could cause even more significant losses.
Some traders argue, however, that the present price behavior reflects normal volatility and believe that XRP has already experienced similar conditions and has rebounded effectively.
Short Rebound Provides Short-Term Breather
For the first time since November, XRP fell below $2. It made a weak recovery on Tuesday morning, closing at about $2.10. This recovery, however, does not guarantee safety. Many traders remain cautious, waiting to see if the bearish pattern plays out or if XRP can maintain its footing above key levels.
Main Focus: $2 Support Level
For XRP, the next few days will be critical. If buyers step in and hold the price over $2, the cryptocurrency might escape a more drastic drop. A break below this level, however, can lead to further losses if the selling pressure increases.
Traders and investors will be closely monitoring this event, as it has the potential to significantly impact the short-term price movement of the altcoin.
Despite the increasing market uncertainty, some analysts advise caution, while others believe that it could be an opportunity for those seeking to purchase at lower prices. Either way, the entire crypto community will be intently monitoring XRP’s next move.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
