Crypto Analyst Says ‘XRP Is In Trouble,’ Here’s Why

Crypto
analyst
Alessio
Rastani

has
warned
that
XRP
is
in
“trouble”
following
his
recent
analysis
of
the
chart.
He
outlined
certain
“strong
warnings”
on
the
chart,
which
showed
that
the
crypto
token
could
experience

further
price
declines.

Why
XRP
Is
In
Trouble

Rastani
mentioned
in
a

video

on
his
YouTube
channel
that
XRP
could
drop
to
$0.13
or
even
lower
as
part
of
Wave
C
of
his
analysis
using
the

Elliot
Wave
Theory.
He
noted
that
a
drop
to
that
price
level
represents
about
a
100%
decline
for
XRP
from
Wave
B
and
a
similar
corrective
move
to
Wave
A
that
occurred
in
2020.

Related
Reading

The
crypto
analyst
also
alluded
to
the
the
altcoin’s
bounce
in
2020,
around
the
time
the
crypto
token
was

declared
a
non-security.
He
claimed
that
the
rally
then
overlapped,
which
suggested
it
was
a
corrective
bounce.
He
noted
that
these
corrective
rallies
are
bearish
in
nature
as
they
usually
resolve
to
the
downside.

Rastani
claimed
that
an
impulsive
rally
is
required
for
XRP
to
continue
its
uptrend.
That
is
why
he
believes
that
XRP
can
still
drop
lower
since
the
corrective
rally
from
2022
is
still
in
play.
The
analyst
also
highlighted
the
support
levels
at
$0.41
and
$0.35
as
crucial,
stating
that
a
break
below
those
levels
will
serve
as
confirmation
for
the

downward
move

to
$0.2
and
$0.17.
He
added
that
XRP
could
even
drop
lower
to
$0.13.

Meanwhile,
Rastani
predicts
that
this
move
could
take
several
months,
stating
that
the
crypto
token
could
drop
to
these
levels
by
year-end
or
sometime
in
2025.
He
also
said
that
the
altcoin
needs
to
stay
below
the

resistance
levels
at
$0.64

and
$0.74,
as
a
break
above
those
levels
will
invalidate
his
projections.

Rastani
also
highlighted
the
momentum
indicator
on
XRP’s
chart,
noting
that
there
has
been
a
lot
of
“downward
negative
momentum”
for
XRP
recently,
suggesting
that
a
downward
move
will
likely
occur.
He
claimed
that
the
downward
momentum
hasn’t
been
triggered
yet,
but
he
believes
that
it
will
soon
happen,
especially
if
the
altcoin
breaks
below
$0.35.

An
Alternative
Move
For
Price

Rastani
also
outlined
an

alternative
move

that
XRP
could
make
if
his
projections
are
invalidated,
although
he
doubts
that
will
happen.
He
claimed
that
if
XRP
manages
to
break
above
$0.64
and
$0.74,
that
would
mean
that
the
rally
in
2022
was
Wave
A,
and
the
recent
drop
to
around
$0.40
was
Wave
B,
thereby
setting
up
XRP
for
a