A notable analyst insists that XRP could be set for a final move after the asset lost major support on the daily time frame.
XRP Yesterday it continued its patchy rise, losing 6% to close at $2.1537. However, the native XRPL token has recovered slightly today and its weekly change is positive 3.76%.
Amid market uncertainties a youngest The analysis suggests that an accurate XRP move is imminent. Market speculator Dom assured that a move would be made soon.
Volatility is decreasing
Dom argued that volatility on the XRP chart is easing, suggesting that the market is targeting a particular move more specifically. As a result, he asserted that a move could happen soon.
Meanwhile, he pointed to an indicator that could determine XRP’s next move. According to his comment, XRP has lost a crucial point Moving average supportwhich raises the expectation that there will be lower prices.
The analyst noted that XRP remained above the 20-day exponential moving average (EMA) on both the USD and BTC charts last week. However, yesterday’s close below the moving average could mean further downside.
Additionally, Dom pointed out that if XRP holds a position below $2.2, it would ensure that the asset remains in bearish territory. As a result, XRP could experience further downside at any time.
Market heavily dependent on Bitcoin
Dom noted that the market movement still depends heavily on Bitcoin’s next move. The analyst’s post states that Bitcoin trading below $95,000 would be bearish for altcoins.
What is noteworthy is that the market speculator referred to the levels below $95,000 as the mid-range and emphasized…
