This Technical Resistance Restricts XRP Price Recovery; Will the Decline Continue?

Published 42 minutes ago by
Brian Bollinger Despite the uncertainty surrounding XRP vs Sec, significant selling occurred despite the negative market sentiment. This altcoin has broken another support level of $0.35 with an intraday drop in price of 2.23%. Thus breakdown offers an additional resistance level on the seller’s side to limit price recovery.advertisementKey points: The $0.35 support breakdown sets the XRP price for a 6.2% fall
The coin price will continue to fall until the overhead resistance trendline has been reached.
The intraday trading volume at the XRP price was $741.2 billion, which is a 111% gain.
Source: TradingviewOver the past three week, the XRP prices have been steadily falling under the pressure of a descending trendline. The trendline has been reverted three times, indicating that a selling motive for rallies is driving the market sentiment. However, the recent sell-off in crypto market caused significant outflow and an accelerated downward spiral. The last reversal of the overhead trendline on December 14 resulted in a 13.7% drop within seven days. Trending StoriesThis altcoin has broken multiple support levels, the most recent being $0.35. This downfall accentuates the rising bearish momentum and negative sentiment in the crypto market. This downfall accentuates the rising bearish momentum and negative sentiment in the crypto market.advertisementEMAs: the crucial EMAs(20, 50, 100, and 200) leaning downwards offer additional selling pressure to XRP priceXRP intraday price levelsSpot price: $0.34
Trend: Bearish
Volatility Low
Resistance level: $0.35 and $0.38
Support level – $0.32 and 0.
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