XRP, at the time of writing, was trading at $0.184 after retesting 30-day support around $0.181, in the opening hours, today. Around the current trading price area, the coin is lacking support from 50-day and 200-day MA at $0.189 and $0.195, respectively.
Many altcoins like Verge, VeChain, Tezos have been holding an amazing momentum in the intraday while Bitcoin, XRP, and Ethereum have lost the winning streak over the past week now. The entire market is an utterly volatile space at present wherein the largest cryptocurrency by market capitalization is also lacking momentum and is retesting major support around $9k.
XRP Price Analysis
On the intraday chart, XRP, over the previous week, has been consolidating below 50.0% Fib Retracement level, and with the recent dip below $0.19, XRP fell to retest monthly lows around $0.181. the 20-day Bollinger Bands laid are seen widening as the volatility rolls, and the bearishness prevails thereby.
Towards the early half of the previous week, XRP price was rightly trading between $0.200 to $0.250 until it retested support around $0.181 for the first time in the previous week. Prior to the present day’s dip, XRP coin has already dipped below 50.0% and 38.20% Fin Retracement level, confirming the bearish crossover. Moreover, it was just today when Bitcoin also reclaimed to supports around $9k and holds imminent and stringent support at $8k, below which the coin will be tangled with a complete bear pressure.
The technicals are confirming the bearish divergence as the intraday is not portraying a positive picture after reclaiming 30-day support. Similarly, the RSI of XRP is at 34.07 due to the selling pressure.