Ripple's (XRP) price closed below a critical horizontal area, fueling fears that the trend is bearish. The downtrend is expected to continue unless the price regains this area and initiates a significant upward move.
Weekly timeframe technical analysis for XRP shows a bearish trend. This is shown to be due to both price action and RSI readings. First, the XRP price has fallen since its annual high of $0.93 in July. At the time, it was rejected by the 0.382 Fib retracement resistance level. This created a long upper wick, indicating that the sellers were taking control and the trend was bearish
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