Why This Market Analyst Is Warning Crypto Investors To Stop Buying XRP

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The XRP price could be on the verge of a massive crash, as a crypto analyst has identified a key technical pattern in the cryptocurrency’s structure that signals a potentially severe downturn. According to the analyst, this formation has appeared only twice in XRP’s history, and each time has preceded a devastating loss. If the pattern were to repeat, the cryptocurrency could be headed for more pain. The analyst warns traders and investors to stop buying XRPat this time, citing heightened risk.  Analyst Advices Against Buying XRP As Price Crash Looms

An urgent warning from market analyst Steph is Crypto has spread across the community, as he advisestraders and investors to “not touch XRP anymore.” The analyst shared a video of his XRP price forecast on a recent X post, revealing that the altcoin’s long-term indicators point to a troubling setup that could mirror downturns observed during past market cycles.  Related Reading Why This Market Analyst Is Warning Crypto Investors To Stop Buying XRP 12 hours ago

Steph Is Crypto shared that his study of the monthly Moving Average Convergence Divergence (MACD)for XRP has revealed a new bearish crossover taking shape, signaling declining momentum. The analyst stated that XRP had formed a bearish crossover on the chart only twice since its inception in 2012. Both times this pattern appeared, the cryptocurrency underwent one of the most dramatic price crashes ever, losing over half its value right after. 

He explained that during the first bearish crossoverin 2019, XRP crashed by more than 84%. Similarly, a second crossover reemerged in 2022, triggering a deep price decline of about 67%. It’s worth highlighting that each time XRP formed this bearish signal,it was after a major bull market. 

In 2018, the cryptocurrency staged a historic rally that sent its price to its current all-time high above $3.84. Likewise, the steep correction in 2022 came on the heels of an explosive 2021 bull market, one of the most powerful in crypto’s history.  

Just as in the past, Steph Is Crypto sees a bearish crossover forming once again in the current cycle, suggesting that the conditions are aligning for another devastating price crash. He admitted that he wishes he had not spotted this formation on XRP’s chart, underscoring his usually bullish stanceon the cryptocurrency. The analyst has cautioned traders to take this historical setup seriously and to consider the possibility that XRP could revisit significantly lower price ranges if the pattern plays out.  XRP Price Momentum Remains Weak

XRP remains in a downward trend, with its price barely holding above $2.00. The cryptocurrency has dropped by over 15% so far this month, declined about 2.2% over the past week, and has crashed approximately 16% year to date, according to CoinMarketCap.  Related Reading Here’s Why Strategy’s $1 Billion Bitcoin Purchase Did Not Trigger A Price Rally 2 days ago

XRP’s price momentum is weak, with little indication of a near-term recovery. The cryptocurrency’s Fear and Greed Index has slippedto 42, edging closer to the “fear” zone. This market uncertaintyis being driven by the cryptocurrency’s sluggish price action, despite having passed $3.00 earlier this year and nearly challenging its all-time high.  Price moves lower with market decline | Source: XRPUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com