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XRP Will Likely Drop 38% Unless It Moves Above This Critical Line As BTC Heads for Bottom: Analyst

 

A prominent crypto analyst says XRP is in the danger zone.

TraderSZ tells 39,700 followers on Twitter that the third-largest cryptocurrency by market cap needs to rise above a critical “mid-range” level to avoid a further 38% breakdown.

The analyst draws that line at $0.2669 – an area of support and resistance dating back to 2017.

“As long as we hold below mid range, expecting XRP/USD to drop towards $0.135 next.

Source: TraderSZ/Twitter

TraderSZ isn’t just picking on XRP. He has a bearish outlook on the crypto markets at large.

In the near term, the trader is short Bitcoin (BTC), and expects the king of crypto to drop below $7,300, then $6,900 and then $6,600.

As for when BTC will hit a bottom, the analyst says it’s likely to happen at…

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