{"id":53897,"date":"2020-02-20T14:30:45","date_gmt":"2020-02-20T12:30:45","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=53897"},"modified":"2020-02-20T14:40:48","modified_gmt":"2020-02-20T12:40:48","slug":"veteran-analyst-warns-of-xrp-crash-to-0-20-as-price-stumbles","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/veteran-analyst-warns-of-xrp-crash-to-0-20-as-price-stumbles\/","title":{"rendered":"Veteran Analyst Warns of XRP Crash to $0.20 as Price Stumbles"},"content":{"rendered":"

As Bitcoin has collapsed over the past day, so too has Ripple’s XRP<\/a>.<\/p>\n

Since peaking at around $0.34 last week on the back of FOMO buying, the popular altcoin, the third-largest cryptocurrency by market capitalization, has plunged as low as $0.26 \u2014 a drop of around 25%. Ouch.<\/p>\n

While the cryptocurrency has already plunged heavy, underperforming Bitcoin’s relatively measly 10% loss, a top analyst is fearing that more pain is on the horizon.<\/p>\n

Top Analyst Fears XRP Could Trend Even Lower<\/strong><\/h2>\n

Legendary commodities trader Peter Brandt<\/a> recently remarked that XRP is in the midst of forming a potentially extremely bearish chart pattern: a head and shoulders top<\/a>, marked by two shoulder-like price action and a blow-off top.<\/p>\n

Brandt remarked that should this textbook pattern play out, the cryptocurrency could fall to $0.2071 \u2014 around 23% lower than the current market price around $0.27 \u2014 for that is where the measured move for this pattern lies.<\/p>\n

Should XRP fall this low, that would mean bulls would be put back to the drawing board, for the cryptocurrency would have broken through the crucial daily and weekly support around $0.27.<\/p>\n

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It will be interesting to see if this H&S top plays out. If so, the target would be .2071.<\/p>\n

This Tweet poses a possibility. This is not a prediction. pic.twitter.com\/IJiMR2AEnV<\/a><\/p>\n

— Peter Brandt (@PeterLBrandt) February 20, 2020<\/a><\/p><\/blockquote>\n