Ripple Will Drop By 60% Against BTC: Traders Predictions

Ripple will drop by 60% against bitcoin since it is having trouble this year since it got down by more than 66% previously which is seen on the charts in the altcoin news that the third-largest cryptocurrency has seven consecutive red candles in a month.

Unfortunately, as the situation is currently developing, it looks like the cryptocurrency is not letting up anytime soon. An analyst under the name LiverCoin on Twitter believes that Ripple will only go down further. According to him, Ripple will revisit the historical support before it launches a massive parabolic rally. In the bear market this year, Ripple went into oversold conditions in both daily and weekly time frames. It is not surprising to see someone that is calling for relief before the next crash. However, Livercoin’s prediction does not come from oversold conditions. His prediction is based on the fractal which is a geometric structure. The technical analysis shows that the historical price action is identifying the fractals in one chart which helps the traders see the future price action.

In the case of Ripple, the crypto token rallied by more than 4,000 satoshis in 2017 before dropping and reaching the stability of 1,500 satoshis. The drop of more than 60 percent in less month is what the trader expects to unfold in the upcoming weeks since the cryptocurrency is creating a similar geometric structure. Ripple will drop by 60 percent as predicted by Livercoin which will cause maximum pain to retail investors. If the trades reach up to 1,500 satoshis, then it will be safe to assume that the investors have been shaken out.

As noted in the latest cryptocurrency news, based on the fractal theory that Livercoin based his prediction on, Ripple will skyrocket right after it hits the historical support line of 1,500 satoshis. The influx of capital will be very quick and many retail investors will be left on the sidelines. By looking at the analysts’ charts, Ripple will ascent to 17,000 satoshis in the next couple of days. Although this could sound like an absurd prediction, anything is possible on the crypto market.