XRP has formed a gravestone doji on its weekly chart, a bearish candlestick pattern that often precedes significant price declines. This development was highlighted by market analyst Ali Martinez, who noted the pattern's completion following a close at $2.072 last week. The gravestone doji, characterized by a long wick and clustered opening, closing, and low prices, suggests strong price rejection and potential further declines. Last week, XRP initially rallied to a high of $2.41 but retraced 14% over five days, closing with a slight 0.88% decline. Analysts, including CRYPTO CAPTAIN, warn that XRP could drop to $1.8 if it fails to maintain support around $2.10 and $2.05. However, some analysts, like BigBlueNation, view the retracement as a temporary retest before a potential bullish move, indicating differing opinions on XRP's future trajectory.
XRP Forms Gravestone Doji, Signaling Potential Downtrend
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