XRP hasn’t been excluded from the recent rally in the cryptocurrency market. From its lows in March of $0.11, the second-largest altcoin has gained over 100% from the lows. As Bitcoin topped $9,400 last week, the altcoin topped $0.23, showing strength after a macro downtrend.
This recovery aside, top analysts believe that the cryptocurrency is currently in a bearish macro position. One prominent trader went as far as to say that it is the “last stand” for XRP holders.”
It’s the “Last Stand” for XRP Holders
According to Peter Brandt, commodities and asset trader since 1980 and a technical analysis author, the XRP/BTC chart is currently printing a “desperate last stand” for bulls:
“This chart tells me the bag holders (who need to dump > 40 Bil XRPs) are supporting XRP/BTC at .000023 to .000024 as a desperate last stand. Sellers more…
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