Although all cryptocurrencies have had it tough over the past few weeks, XRP has been hit especially hard. The altcoin, the third-largest crypto asset by market capitalization, fell as low as $0.105 on Thursday from its 2020 high of $0.345 established just weeks earlier, marking a drop of 70%.<\/p>\n
Despite this brutal performance, a veteran cryptocurrency trader is warning that XRP may be on the verge of falling even further in the coming weeks and months.<\/p>\n
Veteran commodities trader Peter Brandt, who has embraced digital assets, recently posted the below chart to Twitter, writing<\/a>:<\/p>\n I said I would never again post a chart of XRP. But, I thought you all might be interested in what it means to have ‘White Space below’.<\/p><\/blockquote>\n While he didn’t convey a price prediction for the cryptocurrency, the comments in response to this tweet quickly filled in the gaps; what he depicted was that there is seemingly no price support for XRP until it returns from whence it came, as the cryptocurrency has decisively fallen below a number of moving averages and key support levels.<\/p>\n I am breaking a promise.<\/p>\n I said I would never again post a chart of $XRP<\/a><\/p>\n But, I thought you all might be interested in what it means to have …<\/p>\n "While space below" pic.twitter.com\/Pse2DkEXfp<\/a><\/p>\n — Peter Brandt (@PeterLBrandt) March 12, 2020<\/a><\/p><\/blockquote>\n\n