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Glyde Co-Founder Predicts XRP Price For New Cycle Lows
XRP breakdown below a multi-month support structure has opened a potential path toward the $0.90 region, with Glyde co-founder Sweep warning that the asset appears headed for new cycle lows.
“$XRP looks like it’s going to new cycle lows,” Sweep said in his latest market update.
$XRP currently trades around $1.08, with CoinMarketCap showing a 24-hour range between roughly $1.08 and $1.16.
The bearish setup centers on the loss of a neckline around $1.24-$1.25, which had supported xrp repeatedly after its August breakout.
xrp Breaks Below a Multi-Month Neckline
The Binance daily structure developed a broad topping formation between late August and early November.
xrp initially rallied from around $1 in August to roughly $1.50-$1.55, before pulling back toward the $1.25 region. A second, stronger rally then pushed price toward approximately $1.65-$1.67, establishing the highest point of the structure.
XRP’s Binance daily structure shows a breakdown below the $1.24-$1.25 neckline, with a bearish projection extending toward long-term support near $0.90.
Price subsequently returned to the same $1.24-$1.25 support before producing another weaker recovery toward roughly $1.40.
Those successive peaks resemble a head-and-shoulders structure: a lower first peak, a higher central peak and a lower final peak, all supported by a common neckline.
The key development came when xrp finally lost that neckline in early November.
The Crypto Basic had previously identified the loss of the $1.26 area as a major deterioration in $XRP’s short-term structure.
$1.10 Support Has Already Been Reached
The first major downside objective after the breakdown was around $1.10.
xrp has now reached that area, with the latest completed daily session falling as low as approximately $1.075 before closing near $1.098. Daily RSI also dropped below 30, confirming oversold momentum, though not yet a reversal. The Crypto Basic’s Nov. 10 Price Desk recorded RSI at 26.69.
#Write2Earn #xrp $XRP
Glyde Co-Founder Predicts XRP Price For New Cycle Lows
XRP breakdown below a multi-month support structure has opened a potential path toward the $0.90 region, with Glyde co-founder Sweep warning that the asset appears headed for new cycle lows.
“$XRP looks like it’s going to new cycle lows,” Sweep said in his latest market update.
$XRP currently trades around $1.08, with CoinMarketCap showing a 24-hour range between roughly $1.08 and $1.16.
The bearish setup centers on the loss of a neckline around $1.24-$1.25, which had supported xrp repeatedly after its August breakout.
xrp Breaks Below a Multi-Month Neckline
The Binance daily structure developed a broad topping formation between late August and early November.
xrp initially rallied from around $1 in August to roughly $1.50-$1.55, before pulling back toward the $1.25 region. A second, stronger rally then pushed price toward approximately $1.65-$1.67, establishing the highest point of the structure.
XRP’s Binance daily structure shows a breakdown below the $1.24-$1.25 neckline, with a bearish projection extending toward long-term support near $0.90.
Price subsequently returned to the same $1.24-$1.25 support before producing another weaker recovery toward roughly $1.40.
Those successive peaks resemble a head-and-shoulders structure: a lower first peak, a higher central peak and a lower final peak, all supported by a common neckline.
The key development came when xrp finally lost that neckline in early November.
The Crypto Basic had previously identified the loss of the $1.26 area as a major deterioration in $XRP’s short-term structure.
$1.10 Support Has Already Been Reached
The first major downside objective after the breakdown was around $1.10.
xrp has now reached that area, with the latest completed daily session falling as low as approximately $1.075 before closing near $1.098. Daily RSI also dropped below 30, confirming oversold momentum, though not yet a reversal. The Crypto Basic’s Nov. 10 Price Desk recorded RSI at 26.69.
#Write2Earn #xrp $XRP
