XRP has been forming lower lows as it dropped from its resistance of $1.35 a few months ago and is currently trading at the value of $0.317. The XRP token has been moving sideways in the price range of $0.44 and $0.23 for the past few weeks, not showing any major price action.
Once the XRP token closes above the immediate resistance of $0.44 or below the immediate support of $0.23, a strong price trend can be expected in the long run. The current price is moving below the trend line, and though the price got tested several times but couldn’t uplift and is moving in consolidated momentum.
In mid-June, the XRP coin entered the oversold zone, indicating negative momentum. While the RSI indicator is currently at 39, giving neutral price momentum. If the XRP price continues to fall, it may re-enter the oversold zone.
The volume bars on the daily chart show favorable bearish support, and the bears may continue to push the token down like other cryptos. Currently, the Signal line and the...
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