Even the mightiest of markets can fall and that's exactly what happened when the cryptocurrency market bled out over $100 billion in value in less than 24 hours. | Crypto

Even the mightiest of markets can fall and that’s exactly what happened when the cryptocurrency market bled out over $100 billion in value in less than 24 hours.

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– XRP price is on the verge of bouncing off a rectangle support pattern for gains above $0.3667.
– Ripple and the SEC finally have a settlement window for the ongoing court case.
– Losses engulf the entire cryptocurrency market, forcing the total crypto market cap below $1 trillion.
– XRP price is in the process of fortifying support around $0.3180 in the wake of a sharp decline from resistance at $0.3367.
– Although the cross-border money remittance token trades slightly above $0.3200, all eyes are fixated on its ability to bounce off support for a sustained northbound move.
– On the other hand, analysts believe that as Bitcoin price slips below $19,000, it is pulling the entire crypto market down.
– The Ripple vs. SEC lawsuit has dragged on for nearly two years. However, Jeremy Hogan, a legal expert closely following the case, believes both parties could arrive at a settlement over the next few months.
– A positive outcome may change the narrative, allowing XRP price to achieve its bullish potential.
– XRP price was rejected on its latest breakout mission by resistance at the top of a rectangle price pattern, as illustrated in the four-hour chart below.
– The losses were unstoppable until the international money transfer token hit the governing patterns support line.
– Due to extreme volatility, XRP price hit oversold levels twice in the same week. Nevertheless, an applied Stochastic oscillator reveals a strong uptrend in the cards.
– The market value realized value (MVRV) on-chain metric by Santiment affirms the upcoming XRP price breakout.

cryptos Large Even the mightiest of markets can fall and that's exactly what happened when the cryptocurrency market bled out over $100 billion in value in less than 24 hours.

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