XRP Price Analysis: Bearish Exhaustion
The XRP price has been declining and has reached bearish exhaustion, falling from $0.85 to $0.59. It is currently consolidating above the $0.59 support or the 50-day simple moving average. XRP is trapped between the moving average lines and will need to break out to develop a trend.
- XRP is consolidating above the $0.59 support or the 50-day simple moving average.
- The altcoin will resume its positive trend when the price rises above the 21-day line SMA.
- If the bears break below the current support, XRP will fall to its previous low of $0.47.
- The altcoin is expected to fall as it is in a bearish trend.
- The altcoin is in a downtrend below the daily stochastic threshold of 25.
Technical Indicators
- Key resistance levels: $0.80 and $1.00
- Key support levels: $0.40 and $0.20
What’s Next for XRP?
XRP has reached bearish exhaustion and is currently oscillating between $0.62 and $0.64. The presence of doji candlesticks has slowed down its development. However, the price movement suggests that the market has reached bearish fatigue.
Overall, XRP’s price is in a consolidating phase and will need to break out of the current range to establish a new trend. The key levels to watch are the resistance levels at $0.80 and $1.00, and the support levels at $0.40 and $0.20.
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