Is the big fall come?

The KSRP retired on Monday, reaching a crucial level of support and signal the potential for further decline in the coming days.

Ripple (XRP) Fell to $ 2.40, in almost 30% of its highest level this year, officially put it on the bear market.

Sales coincided with widely weakness on the crypto market, as Bitcoin (Btc) He stayed below $ 100,000. The CRIPTO FEAR and the greed index fell into the fear zone at 38, while the AltCoin season index also reduced.

Technically suggest that the price XRP can be further dropped

The KSRP is facing the risk of additional losses in close time. The daily shows that the price dropped below the 50-day and 100-day average average average, bear signal indicating that the sellers control.

In addition, the KSRP formed a sample of head and shoulders consisting of two shoulder, neckline and head. The price has now fallen on sloping cleavage, aligning with a strong swivel reversal of Murai Mathematical Lines.

As a result, a strong bear failure is probably, with the next reference level to $ 1.79, the lowest swing this month. The movement below this level could open the door to further reduction, with the following support of $ 1,6130, which corresponds to 61.8% of Fibonaci with retraculating levels.

Bearing Outlook would be invalid if XRP recovers above low stop level and reverse to $ 2.735.

Vickoff Points Theory of Next

Another risk is that the price of the KSRP moved to the Vickoff Theory Distribution phase.

The weekly graph indicates that the coin remained in the accumulation phase for most last year, characterized by the action aside. Then in November entered the Markup phase, over 400% increase.

Now the XRP switched to the distribution phase. The pause below the main and shoulder pattern would confirm your switch to the mark mark, which is marked by an increased offer, reduced demand and panic sold among investors.

The price XRP has some possible applicable catalysts that can help him recover. For example, a decision by SEC to finish the tavern and Robinci lawsuits is a sign that it will do the same for Ripple.

There are also clarification that the Securities and Exchange Commission will be approved by the KSRP ETF. This odds They rose to 80%, which means that the Agency can approve funds, which is JPMORGAN estimation that will attract over $ 8 billion in funds this year.