fxstreet.com 03 Feb, 2021 08:15 am

XRP price may suffer another 25% downswing unless it regains crucial support

XRP price may suffer another 25% downswing unless it regains crucial support
Ripple embarked on a wild rollercoaster ride this week, soaring to highs above $0.75 for the first time in 2021. However, as reported, the token was d

XRP/USD 30-mins chart The pessimistic outlook can be reinforced by Santiment’s network growth on-chain metric, which measures the number of new addresses joining the XRP protocol daily.If the network growth fails to recover, XRP could continue to drop in value toward $0.Low network growth is also a bearish signal for the mainstream adoption of the project.Ripple Network growth XRP could also ignore the downswing and instead rally 25% toward $0.

On the downside, support at the 50 Simple Moving Average ($0.The Moving Average Convergence Divergence has validated the pessimistic outlook.

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