XRP Finally Broke $3. So Why Is a Top Analyst Sounding the Alarm?
- XRP jumps 5%, outperforming Bitcoin and Ethereum in daily gains.
- Death cross appears, analyst warns of possible XRP price correction.
- Support may hold at $2.48 if bearish pressure intensifies.
XRP has broken through the key psychological barrier of $3 on Monday, surging nearly 5% to hit a high of $3.03. While Bitcoin and Ethereum recorded gains of around 0.50% and 2.50% respectively, XRP stood out by surging nearly 5% to now trade at $3.00.
This performance has placed XRP among the top-performing cryptocurrencies for the day. However, amid the excitement, crypto analyst Ali Martinez issued a warning based on technical indicators.
Bearish “Death Cross” Flashes
He pointed out that the MVRV ratio, which measures the market value versus the realized value of a cryptocurrency, has flashed a “death cross” for XRP.
According to his analysis, this could be a signal of impending downside pressure, suggesting the current rally may not be sustainable.
He added that on-chai…
The post XRP Finally Broke $3. So Why Is a Top Analyst Sounding the Alarm? appeared first on Coin Edition.
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XRP Finally Broke $3. So Why Is a Top Analyst Sounding the Alarm?
- XRP jumps 5%, outperforming Bitcoin and Ethereum in daily gains.
- Death cross appears, analyst warns of possible XRP price correction.
- Support may hold at $2.48 if bearish pressure intensifies.
XRP has broken through the key psychological barrier of $3 on Monday, surging nearly 5% to hit a high of $3.03. While Bitcoin and Ethereum recorded gains of around 0.50% and 2.50% respectively, XRP stood out by surging nearly 5% to now trade at $3.00.
This performance has placed XRP among the top-performing cryptocurrencies for the day. However, amid the excitement, crypto analyst Ali Martinez issued a warning based on technical indicators.
Bearish “Death Cross” Flashes
He pointed out that the MVRV ratio, which measures the market value versus the realized value of a cryptocurrency, has flashed a “death cross” for XRP.
According to his analysis, this could be a signal of impending downside pressure, suggesting the current rally may not be sustainable.
He added that on-chai…
The post XRP Finally Broke $3. So Why Is a Top Analyst Sounding the Alarm? appeared first on Coin Edition.
Read More
XRP Climbs Into Global Top 100 Assets List Ahead of HDFC Bank, Citigroup