XRP Draws a Bearish Trendline in Days to Come
XRP trades with zero and inactive support as it falls to the bottom price area around $0.18. With this, XRP/USD has been drawing a sliding trend as it lacks active support from the daily moving averages. This ongoing downtrend has been intact since the 2nd week of the previous month and has infused volatility for the XRP investors.
Ripple Price Analysis
Analyzing the 8-hourly movement of XRP/USD on Kraken, we see that the coin is bottoming out day by day and lacks an important persistent trade above $0.20. However, if it lacks momentum to rise, Ripple price can fall as low as $0.15 as well as per the current trend. As observed, in the past two months, XRP coin has been giving a slight hope of an uptrend but ultimately ends up bottoming out with inactive supports.
Taking a closer look at the movement of the Ripple coin, we see that two days back, a falling trend was which happened to have a slight break above $0.190 but could not touch $0.19200. A persistent rise above $0.19200 could have led the coin to take an excellent trade above $0.20 and not bottom out around $0.18.
XRP is only foreseen falling in the upcoming days, and as per our analysis, we do not expect an uptrend any soon.
The same is confirmed by the technical indicators laid, as the MACD line is running below zero, and the negative turned histogram bars indicate the bearishness.
The RSI of the coin also remains inclined to the support zone, i.e., the oversold region at 41.07.