XRP News
- XRP investors are questioning how low the digital remittance token can fall after its price action hints that another drop may take place in the coming weeks.
- Currently, the price of XRP displays slightly bearish signals to start this week’s trading session.
- Should the technicals be correct, day traders’ liquidity could be wiped out and the price of XRP could fall to $0.31.
XRP investors are questioning how low the digital remittance token can fall after its price action hints that another drop may take place in the coming weeks. This is after the price of XRP diverges from the majority of the rest of the crypto market that seems to be positioning itself for an anticipated countertrend spike.
Currently, the price of XRP displays slightly bearish signals to start this week’s trading session as its price posts lower highs and higher lows. The ongoing tug of war between bears and bulls put the price level of the crypto to $0.4250.
Undoubtedly, the triangle pattern being formed on XRP’s chart indicates that the price of XRP will enter into a strong rally. However, the directional breakout from the triangle can go either way. Still, indicators signal the short-term bearish outlook that investors have for the coin.
A key indicator to look at on the XRP chart is the Relative Strength Index (RSI). As the price of XRP continues to gain profitable ground, the RSI values the uptrend’s power similar to April 3 when the XRP price also failed to produce a bullish breakout from a much larger triangle pattern.
This subtle cue could suggest some bullish fatigue as the bulls are not gaining any good profits while competing with very little support. Should the technicals be correct, day traders’ liquidity could be wiped out and the price of XRP could fall to $0.31.
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