- XRP Token price retests the bearish breakout of the consolidation range in the 4-hour chart.
- The sudden rise in the buying pressure retests the bearish range fallout inviting more sellers.
- The pair of XRP/BTC is trading at 0.0000173 BTC with an intraday move of -0.23%.
XRP Token price invites more sellers as the recent jump in price retests the bearish range fallout. Furthermore, the recent formation of the Doji candlestick indicates a bearish reversal is soon to follow.
Pivot point analysis has shown that the resistance levels of the Token are at $1.10, following $1.20. However, if the price drops below $1.03 sellers could face resistance at $0.90.
XRP Token trades for $1.06 and has experienced a 4.04% rise in market capitalization within 24 hours. In addition, the intraday trading volume decreased by 14% over the last day.
Bearish Reversal Awaits In XRP Token Price Chart.
Investors can soon see the price fall below to the $0.90 mark if the selling drive sustains the volume growth. Traders can find entry opportunities at the breakout below the $1 mark.
The XRP price shows a bearish trend with its price trading below than the crucial daily EMAs. However, the price action indicates a rise in the number of sellers with increased chances of a downfall.
The RSI indicator projects a recovery in the underlying bearishness of XRP token price as the slope falls below the central mark in the daily frame.
The MACD indicator displays the MACD and the signal lines lower in the daily chart. Hence, the MACD indicates a bullish signal.
Conclusion: XRP Token price indicates a reversal in the underlying trend momentum with the recent Doji candlesticks in the 4-hour chart. Hence, investors can expect the token price to touch the $0.90 mark shortly if the selling volume sustains.
Support – $1 or $0.90
Resistance – $1.10 and $1.20