$XRP Will the Price of XRP Drop Below $1❓❓❓❓
XRP is trading around $1.07 at the time this news is written on Thursday, continuing a bearish reversal from the 50-day EMA near $1.28 last week. This cross-border remittance token is holding above the June 6 low at $1.05, with a minor recovery phase, but the prevailing bearish trend warns of a sharper correction.
The MACD indicator shows a sell signal as the average lines form a bearish crossover, while the RSI falls to 34, suggesting that sellers still control the market, even though the pair is approaching oversold territory.
A potential daily close below $1.05 could threaten the FVG formed between $0.92 and $1.00, with the midline around $0.96.
XRP/USDT daily price chart.
On the upside, the initial resistance is the 50-day EMA near $1.23, which caps any recovery attempts, before a stronger barrier at the 200-day EMA around $1.54, reinforcing the broader bearish structure.
#CircleToPartnerNomuraForInstantFXSettlement #HYPEFalls17%FromRecordHigh $SEI $DOLO
XRP is trading around $1.07 at the time this news is written on Thursday, continuing a bearish reversal from the 50-day EMA near $1.28 last week. This cross-border remittance token is holding above the June 6 low at $1.05, with a minor recovery phase, but the prevailing bearish trend warns of a sharper correction.
The MACD indicator shows a sell signal as the average lines form a bearish crossover, while the RSI falls to 34, suggesting that sellers still control the market, even though the pair is approaching oversold territory.
A potential daily close below $1.05 could threaten the FVG formed between $0.92 and $1.00, with the midline around $0.96.
XRP/USDT daily price chart.
On the upside, the initial resistance is the 50-day EMA near $1.23, which caps any recovery attempts, before a stronger barrier at the 200-day EMA around $1.54, reinforcing the broader bearish structure.
#CircleToPartnerNomuraForInstantFXSettlement #HYPEFalls17%FromRecordHigh $SEI $DOLO