XRP Continues Its Slide to a Low of $2.70

XRP/USD Long-term Trend: Bearish

XRP’s price slips below its moving average lines and continues its slide to a low of $2.70. When the cryptocurrency is in a bearish trend zone, it tends to plummet. Today, the altcoin is sliding after being repelled twice by the moving average lines. The selling pressure has slowed as a result of the Doji Candlesticks.

Today, the altcoin has dropped to a low of $2.82. Nonetheless, since August 2, the cryptocurrency has traded above the crucial support of $2.70. On the downside, if the bears violate the $2.70 support level, XRP will fall to a low of $1.85. Meanwhile, the altcoin is steadily sliding to the downside. Altcoin is falling steadily to the downside. 

Technical indicators

Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50

Daily Chart Indicators Reading:

The 21-day and 50-day moving average lines are horizontally flat, suggesting a sideways trend. The 21-day SMA is below the 50-day SMA, signaling a bearish trend. Price movement has been steady due to the existence of Doji Doji candlesticks.

XRP/USD Medium-term Trend: Bearish

On the 4-hour chart, XRP has been declining since September 13. The cryptocurrency price is experiencing a pattern of lower highs and higher lows. On the downside, the altcoin has stabilized above the $2.70 level. It is trading above the $2.70 support level and below the moving average lines, which represent $3.00 resistance. XRP is falling toward its current support of $2.70.

4- Chart Indicators Reading

The moving average lines have a downward slope, indicating a bearish trend. The 21-day SMA is above the 50-day SMA in a declining trend. The cryptocurrency price fluctuates both below and above the moving average lines. There is a long candlestick tail point across the present support level of $2.70. It suggests considerable buying pressure at a lower price point.

General Outlook for Ripple (XRP)

XRP is continuing its downward trend, falling to a low of $2.70. The altcoin is trading between $2.70 and $3.00, with the latter acting as resistance. XRP is sliding after encountering resistance near $3.00. If the bears breach the $2.70 support level, the cryptocurrency signal will be bearish.

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