- As a market preposition for more risk-off, Ripple prices are set to print new lows.
- The price of XRP is set to be one of the victims of the upcoming dollar appreciation.
- If the XRP price is set to print $ 0.30 and the bull takes a step back, a new low is possible.
Ripple (XRP) prices are set so that another batch of stronger dollars may print new lows by the weekend or over the weekend as another batch of dollar appreciation rocks the market and lowers all risk assets. .. Cryptocurrencies at the forefront of these headwinds could reduce interest and purchasing power, open room for bears to kill, and trigger new lows in 2022, in the process May. And the small profits generated in June will be erased. After the bull is crushed like a fly on the wall and eventually pushed out of position at around $ 0.37, the price is expected to fall 18% like a stone to $ 0.30.
XRP price goes down like a stone
Ripple prices are set in the tank behind a series of events triggered by the ECB’s slumping meeting, which Lagarde unmarked and disappointed the market by promising the least possible rate hike, Globally, other central banks are rising significantly their rate to cool inflation. The significant systemic risk posed caused a flood of dollar appreciation that rolled the market and led investors to flee cryptocurrencies. That said, the strength of the dollar has not yet fully penetrated all cryptocurrencies and the XRP price is still set for delay correction.
The price of XRP is initially set to fall towards $ 0.37. This was the lowest of most baselines in May and June. I expect that level to hold some support, but it still breaks. The penetration below, with the closest support level of only $ 0.30, opens up a fairly thick area on the downside. Converted to a percentage, it means a 17% loss from $ 0.37 to $ 0.30, or a 25% loss from where the XRP price is currently traded.
XRP / USD daily chart
Alternatively, the XPR price is still trading between $ 0.37 and $ 0.42, so it could rise this week as well, with some cryptocurrencies showing confusion from the current dollar price. This is very positive for cryptocurrencies such as Ripple prices and can bring the rally as one possible scenario, even while stocks are tanking. The upside target is set at $ 0.48, just above the monthly pivot.