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The Ripple (XRPUSD) in its bearish corrective phase 🔍
The price of Ripple seems to have stabilized at its current levels. Important breakout. A short-term ascending trend line has just given way. The negative pressure is there. XRP is trading below its 50-day simple moving average. Not a good sign. 📉
We still notice something interesting. A positive intersection in the relative strength indicators appears. XRP has reached saturation zones on the selling side. Even extreme. This has given it a bit of respite. The price is holding for now. 🛡️
This stabilization? Just temporary. It serves to relieve a bit of the selling pressure from the last few days. Nothing more. 🔄
For the future, we expect to see the bearish correction continue. It is almost certain if the price remains below $2.90550. The level to watch is rather $1.99218. This is our main target. Logical. 🎯
Direction? Bearish. It's quite clear. 🌑