The Price of Ripple (XRP) Continues to Decline
The price of Ripple (XRP) has been falling below its moving average lines, indicating a bearish trend. After several failed attempts to break above the $0.55 resistance level, the XRP price has crashed and is currently retesting the previous support level at $0.47. If the bears break this support, XRP could fall even further to $0.45.
XRP Indicator Analysis
Price bars that were previously above the moving average lines are now below them, suggesting a bearish market. The altcoin has been trading sideways with a horizontal slope in the moving average lines.
Technical Indicators:
Key resistance levels for XRP are $0.80 and $1.00, while key support levels are $0.40 and $0.20.
What’s Next for XRP?
XRP is currently falling below the moving average lines on the 4-hour chart, indicating a continued downtrend. The cryptocurrency is expected to reach either the 1.618 level of the Fibonacci extension or the $0.46 level.
Source: Coinidol
Hot Take: Ripple (XRP) Price Faces Bearish Trend
The price of Ripple (XRP) has been struggling to break above resistance levels and has fallen below its moving average lines, signaling a bearish trend. If the current support level is broken, XRP could experience further decline. Technical indicators show key resistance levels at $0.80 and $1.00, while support levels are at $0.40 and $0.20. The future of XRP remains uncertain as it continues to trade below the moving average lines, with a potential target at the 1.618 Fibonacci extension level or $0.46.
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