XRP Bulls are “Impotent” as They Form Another Failed Bounce Setup

www.newsbtc.com

The aggregated cryptocurrency market has been caught within a firm uptrend over the past few days, with Bitcoin rallying up to its key resistance in the upper-$6,000 region leading many major altcoins including XRP all posting some decent gains. Although XRP has been able to recapture its key position above its $0.15 support, it has been underperforming Bitcoin over the past several days and weeks.

Although $0.15 may be acting as strong support in the near-term, some analysts believe that XRP is bound to see significantly further downside before it is able to find any significant support. Livercoin, a prominent cryptocurrency analyst on Twitter, spoke about the embattled crypto in a tweet from this past weekend, telling his followers that he anticipates XRP to decline another 30% or more against its BTC trading pair before it finds any significant support.

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