The cryptocurrency market has always been subject to speculative comments from its user base, especially during the bear market. Ripple’s XRP, the third-largest cryptocurrency on the charts has one of the most volatile and active communities in the space, and their sentiments on social media are one to behold.
In a recent tweet, CryptHawk, a famous XRP proponent tweeted:
“$XRP – No need to comment of course TA never work in #Crypto! Many of you can’t afford #XRP to go lower so you become mean, more idiot than you’re already are and call it a scam! Don’t take someone else’s seat if you can’t handle $0.14! #XRPCommunity #XRPArmy #Ripple”
The user’s comments came in the wake of the rest of the cryptocurrency community calling Ripple (XRP) a useless commodity because of the lack of price movement, and the fact that it still lags behind the VItalik Buterin led Ethereum on the charts.
At press time, XRP trades for $0.26 with a total market cap of $11.17 billion. The fall in current prices of native Ripple cryptocurrency is a result of a 7-day crash that caused the cryptocurrency’s valuation to dip by 14.06 percent.
XRP’s $42.89 billion 24-hour market volume is mostly held by RightBTC which has the control on 6.9 percent of the total XRP trade. RightBTC is followed by BW.com, a popular cryptocurrency exchange which oversaw the business of $51.56 million worth Ripple tokens.
CryptHawk’s analysis showed that the price fluctuation would only increase with time and that the bear would be in the driver’s seat for extended periods. The technical analysis provided by the user indicated that Ripple’s XRP would first crash perpendicularly to $0.119 after which it will climb to $0.178. CryptHawk proceeded to inform the community that the fall will culminate with the cryptocurrency reaching a low of $0.09.
CryptHawk’s ‘$0.14 prediction’ has come at a time when XRP’s price has fallen to its lowest in almost 11 months. The last time the third-largest cryptocurrency fell below the $0.26 mark was in September 2018, after which the value had shot up to a whopping $0.616.
At the moment, however, the Relative Strength Index indicator of Ripple coin has crashed below the oversold zone, a sign that holders are selling XRP rapidly out of fear of a crash. CryptHawk was also asked by users on Twitter about the fate of Bitcoin during the same time frame, to which he replied that the world’s most tremendous digital asset would fall within the confines of $8500.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.