The XRP Bear market signals have become more clear against the background of high pressure in February. Technical indicators now indicate a 50 % potential decrease in prices, and is also fueled by the downtown trend of the broader encryption market and recent US policy decisions.
However, South Korea merchants offer some lifestyle to the bulls, as Ripple has reached more than 1.5 % against the local currency over the past 24 hours.
According to TRADINGVIEW analysts, there is a head and shoulder pattern on the chart for 3 days from XRP, a composition that precedes a declining step. The pattern consists of three peaks: a higher height (head) surrounded by two lower heights (shoulders).
Once the price collapses to the bottom of the neck line, it usually leads to a decrease equal to the high pattern.
50 % decrease on the horizon; Will XRP survive?
XRP/USD has already penetrated the support of the neckline by approximately $ 2.20 on Monday, making it more likely to lose more. Technical indicators expect the direction to continue, and XRP may decrease to about $ 1.15, which is 50 % less than now.
Analysts believe that Ripple tests the level of partial support at $ 2.17. Failure to keep this point may lead an additional decrease to $ 1.94. If XRP remains higher than this level, there is a possibility for an upward movement about $ 3.18, $ 3.58 and $ 3.85. However, if less than $ 1.94 collapses, the immediate support lies at $ 1.81, followed by an area ranging from $ 1.80 and $ 1.40.
On the daily chart, XRP is struggling to stick to a level of $ 2.20 after failing to maintain gains that exceed $ 3. Resistance remains fixed between $ 2.50 and $ 2.60, with stronger pressure for sale near $ 3.
The 122 % in trading volume shows that there is an increased activity for sale, which leads to stronger bears against their owners, which seem more vulnerable to abandoning their property in the coming weeks.
Any reflection of green prices requires a great benefit at the current levels, with constant accumulation to pay XRP above $ 2.50 and start out.
Trump’s policies exacerbate the hybrid pressure, and merchants are looking for South Korea
The feelings of Ripple Market achieved great success when President Donald Trump signed an executive matter explicitly stating that the US government will not allocate taxpayers to buy additional Altcoins. Trump ordered the government to keep only the current encryption properties, which include Bitcoin (BTC) and ETHEREUM (ETH), but not ripples.
The US dollar index is still close to its lowest level in four months, making things less stable in general. This means that risk origins, such as cryptocurrencies like XRP, can be very volatile.
XRP is struggling against the US dollar, which is why my holders will search for its performance in the South Korean market. The distinctive symbol increased by 1.8 % against the victory of South Korea, as it has currently changed from 3,264 KRW per currency on Upbit.
per Data From Cryptoquant, the total XRP Exchange reserves on Upbit, the largest exchange exchange in South Korea, decreased by 8 % during the weekend, while external exchanging flows reached 7.8 million dollars today, indicating a decrease in selling pressure in the Asian country.
The height comes when the South Korean won Decrease In value against the dollar, it is largely due to the ongoing global trade tensions. A report last week revealed that South Korea is preparing for anti -definitions proposed to the United States on car imports, which is scheduled to enter into force in April.
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