Ripple has two Possible Scenarios :
The first and the more probable one is that $XRP has a strong resistance @ $1.70 and wasn't able to break that multiple times, This time the correction cycle will last longer due to the whole market situation.
Scenario 2: It can break the resistance and retest the ATH, which I don't think will happen.
Pay attention to Chaikin OSC which is a volume-based indicator & is about to cross zero lines and has an overall downward trend
Inflation is at the highest point and people's interest in investing in risky assets decreased(Even though most cryptos are deflationary), The other thing is we saw a major correction in the stock market(Due to bad economic situation), especially in small caps which they deliver higher risk/ reward ratios, like crypto.
This the analysis of A Private Trader and NOT A Licensed Professional & might be wrong. please do your own DD & Research.
Thanks for reading it.
The first and the more probable one is that $XRP has a strong resistance @ $1.70 and wasn't able to break that multiple times, This time the correction cycle will last longer due to the whole market situation.
Scenario 2: It can break the resistance and retest the ATH, which I don't think will happen.
Pay attention to Chaikin OSC which is a volume-based indicator & is about to cross zero lines and has an overall downward trend
Inflation is at the highest point and people's interest in investing in risky assets decreased(Even though most cryptos are deflationary), The other thing is we saw a major correction in the stock market(Due to bad economic situation), especially in small caps which they deliver higher risk/ reward ratios, like crypto.
This the analysis of A Private Trader and NOT A Licensed Professional & might be wrong. please do your own DD & Research.
Thanks for reading it.