Last weekend was aggressively bearish in the cryptocurrency market attributed to geopolitical tension between Iran and Israel. Bitcoin plunged to a low of $61500 and prolonged correction of the majority of altcoins including XRP. Within a week, the XRP price fell from $0.643 to $0.49, registering a 24%. This downtick breached below the support of a long-coming trendline indicating the potential for further downfall.
Also Read: 3 Altcoins To Buy For An XRP-Based Portfolio In 2024
Is XRP Price Heading Below $0.4?
XRP Price| Tradingview
Over the past nine months, the XRP price traveled a steady sideways trend resonating within two converging trendlines. The dynamic resistance and support continue to reduce the price spread reflecting no clear dominance from buyers or sellers.
However, this weekend the geopolitical issue in the Middle East triggered a sudden sell-off in the crypto market and plunged the XRP price below $0.5. On April 13th, the recent downturn in XRP’s price broke through
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