Ripple XRP price movement has been following the king of cryptocurrency Bitcoin in the major bullish drive and today when the Bitcoin price fell all major cryptocurrencies fell down with it.
Ripple XRP price movement was no exception when it comes to the bearish pull back today and for good reason. The current market swell as it turns out was made through Bitcoin whales’ manipulation of the market and the pull back is supposedly a good sign as the market comes back to it’s original size.
After the Bitcoin price flash crash, Ripple XRP price has also fallen down to the 10th of February levels. It appears that the manipulated market swell was carrying more than just the Bitcoin forward Ripple XRP as well.
Ripple XRP price movement: What to expect?
While one theory is the Bitcoin flash crash, on the contrary, Cryptocurrency analyst David Smith explains in his latest price analysis that XRP was due to enter a head and shoulder formation. Although his prediction was rather short lived when it comes to immediate execution of the pattern.
Despite the fact that Smith’s predictive analysis didn’t turn out to be true looking at the first chart it is quite evident that the XRP price movement is went into another smaller head and shoulder pattern to gain some support for the cryptocurrency.
The cryptocurrency is still not out of the danger zone and if the formation completes in the coming days Ripple XRP price could fall down to the $0.25 or $0.232 level. Caution is the word once again since informed decisions are always better than gambling.
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Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.