With the beginning of new year 2022, most of the crypto assets appear to have been painted green. However, most of them are still hovering within the same levels, like Bitcoin swinging around $47,000, Ethereum heading towards $4000 and XRP still a long way away long in hitting $1 levels.
In such a scenario, it’s pretty scary if the upcoming movements are considered as the sellers appear to have not exhausted as of now.
However, many still believe it may be the last chance to grab XRP below $1 as the prices are expected to sky-rocket in 2022. No doubt the selling is expected to continue for some more due to the options expiry last Friday. And hence the sellers may keep a tight hold over the market for some more days.
The chart is currently pretty bearish and showcases a huge chance of the asset revisiting the lower support around $0.75 yet again. If it fails to hold at these levels, then the recovery may be halted for a while until it regains these crucial levels.
As currently, the 50-day MA is crossing the 200-day MA and moving towards the south indicating a possible death cross. And in such cases, the assets tend to lose 10% to 15% of their value.
However, a notable flip is anticipated for XRP price from support levels as the market sentiments are pretty positive.
The asset, despite going through numerous ups and downs, still maintains upon the trend line indicating bullish momentum. And hence this could be the last chance for the traders to grab the asset below $1.
The post appeared first on Coinpedia
