A popular cryptanalyst outlines his key resistance levels for XRP as the crypto asset may lag behind Litecoin in market capitalization.
The pseudonymous analyst, known in the industry as Credible Crypto, tells his 91,000+ Twitter followers that XRP investors should watch out for XRP to drop below $ 0.215. According to CoinMarketCap, the asset is trading around $ 0.236 at the time of writing.
“After my last video update, a rejection of $ 0.25 to $ 0.30 was expected.
We now have more clarity from the wave perspective. My short-term bias towards XRP is based on which of these two levels breaks first. Bullish on a break of $ 0.267, bearish on a break of $ 0.215. “
The price of XRP has fallen about 50% since the SEC filed a lawsuit against Ripple in late December alleging the San Francisco payment company had made illegal security offers for the asset since 2013.
XRP, the fourth largest digital asset by market capitalization, briefly fell to fifth place last weekend as the price of Litecoin (LTC) soared.
XRP has since regained its fourth spot, although its market cap is still less than $ 500 million above Litecoin at the time of writing, according to CoinMarketCap.
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