NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Here’s Why Traders are Flipping Short on XRP Despite its Intense 10% Rally

Cole Petersen
Cole Petersen
5 years ago
2 mins read
XRP

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP kicked off an intense and unexpected uptrend yesterday, which led the embattled cryptocurrency to rally over 10%, marking a significant outperformance of Bitcoin and the aggregated market.

This momentum has not been fleeting thus far – as the crypto is now in the process of posting even further gains as bulls attempt to push it back towards the $0.20 region.

In spite of this strong momentum, one respected trader is now noting that he is flipping short on the cryptocurrency, a signal that he does not believe this movement is strong enough to send XRP past its key near-term resistance.

XRP Outperforms Cryptocurrency Market is Striking Overnight Movement 

At the time of writing, XRP is trading up nearly 10% at its current price of $0.176, which marks a notable climb from daily lows of under $0.15.

Prior to yesterday’s sharp upwards movement, the token had been caught within a bout of sideways trading that led it to range around $0.15 for multiple days.

This consolidation came about in tandem with that seen by Bitcoin, which has been trading between $6,600 and $6,800 for the past few days as bulls attempt to surmount the resistance that exists around $7,000.

The rally has also allowed XRP to significantly outperform both Bitcoin and virtually all other major altcoins, leading one trader to note that it may now be forming a classic bull flag that could lead it significantly higher in the near-term.

XRP
Image Courtesy of The Cryptomist

As for how high a breakout of this flag could lead the crypto, the trader notes that its next key resistance sits around 2800 sats – a slight ways up from its current price of 2600 sats.

This Analyst is Shorting the Crypto Due to Mounting Resistance

Calmly, a well-respected cryptocurrency trader on Twitter, explained in a recent tweet that he believes XRP is currently positioned to see some notable near-term downside in the hours and days ahead, primarily due to the resistance it is currently pushing up against.

“XRP – I’m bored and haven’t traded in a while. So I’m shorting XRP, even though I was bullish on this,” he explained.

#Ripple / $XRP – I'm bored and haven't traded in a while. So I'm shorting $XRP, even though I was bullish on this pic.twitter.com/QO9U8cVcUh

— Calmly | full-time trader (@im_calmly) March 27, 2020

While looking at the chart he references above, it appears that he is targeting a near-term downside movement towards $0.14, which could prove to be where it finds enough support to bolster its price action.

Because XRP is rallying independently of the aggregated crypto market, it is also a strong possibility that its next downwards movement could come about separate from any movements seen by BTC.

Featured image from Shutterstock.
Tweet123Share209ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

lilpepe-prochain-dogecoin

LilPepe affole déjà le marché : le prochain Dogecoin en puissance ?

LilPepe vient de franchir plus de 25 millions de dollars levés en prévente et passe en “Stage 13” à 0,0022...

evanss 2 hours ago

Snorter Bot Token สวนทางตลาด! ICO พุ่งทะลุ $4 ล้านในพริบตา

แม้ตลาดเหรียญ Meme จะชะลอตัวลงในช่วงนี้ แต่ Snorter Bot Token (SNORT) ซึ่งเป็นเทรดดิ้งบอทบน Telegram กลับสามารถสร้างแรงดึงดูดจากนักลงทุนได้อย่างต่อเนื่อง ล่าสุดโครงการสามารถระดมทุนผ่านการเสนอขายเหรียญครั้งแรก (ICO) ได้ทะลุ 4 ล้านดอลลาร์ แรงสนับสนุนจากนักลงทุนยังคงแข็งแกร่ง โดยเฉพาะในช่วง Presale ของ...

Narongdet Chaiwit 3 hours ago
snorter bot token

Μόλις 27 ημέρες απομένουν πριν κλείσει η προπώληση του Snorter Bot Token – Η πρώιμη πρόσβαση δεν θα διαρκέσει πολύ

Snorter Bot Token (SNORT): Η προπώληση που μπορεί να γίνει το επόμενο κορυφαίο Telegram trading bot, εισέρχεται τώρα στις τελευταίες 27...

Ιωάννης Ριζόπουλος 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Previsioni Bitcoin: di Nuovo a un Punto Critico

Orfeo Barone 25 minutes ago
비트코인 가격 상승 가능성? 비트코인 하이퍼 프리세일에 투자자 유입 가속

비트코인 가격 상승 가능성? 비트코인 하이퍼 프리세일에 투자자 유입 가속

Soyeon Lee 41 minutes ago
XRP

XRP Price Chatter Heats Up After Developer’s $4 Hint – Details

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    37 minutes ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    41 minutes ago
  • リップル 今後の価格に重大な不安要素、新たに注目すべき仮想通貨とは

    リップル...

    1 hour ago
  • 投資家から1,700万ドル超を調達した注目の仮想通貨プレセール

    ...

    1 hour ago
  • 次の市場ラリーでソラナやリップルを超える可能性を持つ1ドル未満の仮想通貨おすすめ銘柄

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.