Can XRP $0.3975 Support Hold Against Bearish Momentum?
- XRP faces critical support at $0.3975 amidst a bearish trend, with resistance at $0.4615.
- High trading volume during down moves suggests strong selling pressure on XRP.
- Oversold conditions indicated by RSI suggest a potential price reversal for XRP soon.
XRP is searching for stability after experiencing a significant downtrend. As noted by Bill Morgan, a lawyer and crypto enthusiast, XRP’s price has fallen to just over $0.40, with a recent high of $0.4615 and a low of $0.3975 within the specified period. The ongoing bearish trend is evident in a series of red candlesticks, indicating a consistent decline in price.
The immediate support level for XRP stands at $0.3975. This level is crucial as it is where buying interest might increase, potentially preventing the price from falling further. Conversely, the immediate resistance level is identified at $0.4615. At this level, selling interest may rise, potentially hindering the price from climbing higher.
XRP has formed lower highs and lower lows, a clear sign of a bearish trend. For the price to halt …
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