Ripple Slips Lower as It Faces a Drop to the $0.41 Low

Ripple (XRP) Long-Term Analysis: Bearish
The price of Ripple (XRP) has fallen below the moving average lines as it faces a drop to the $0.41 low. The drop was prompted by a rejection at the $0.50 resistance level. The cryptocurrency’s price fell below the 50-day SMA, signaling a likely return to the previous lows.

In other words, selling pressure on the downside will be accelerated. On the negative, the altcoin will drop to the $0.41 low. It is now trading at $0.48 at the time of writing. If the slide is halted, XRP will be forced into a range-bound motion that will last a few days.

The price of the altcoin may range between $0.48 and $0.50. Meanwhile, the cryptocurrency is trading below the 50-day simple moving average.

Technical Indicators
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10

Ripple (XRP) Indicator Analysis
XRP is currently trading below level 44 on the Relative Strength Index for period 14. It is in a bearish trend zone and could fall. The price bar has fallen below the moving average lines, which may hasten the downturn.

The bearish momentum has gradually declined below the daily Stochastic level of 30.

What Is the Next Direction for Ripple (XRP)?
The moving average lines are broken, and Ripple is gradually slipping lower as it faces a drop to the $0.41 low. The cryptocurrency has been trapped between the moving average lines since June 15. According to the Doji candlesticks, the current slump will probably be slow.

The tiny body candlesticks are a representation of the uncertainty that both buyers and sellers go through.


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