Ripple Price Falls Below $0.43 As Bears Take Control Of...

ripple-price-falls-below-043-as-bears-take-control-of Published 1 month ago Views (14) Finance

Following the massive dump in the past week, Ripple price regains its stance on a long trend. Moreover, bulls must tower the bears in this current market momentum.

Last week wasn’t a good trading week for Ripple buyers, as the XRP token recorded a massive 42% loss. As a result, the week closed below $0.4255. Notably, the entire week had the token’s price steadily following a huge bearish trend, declining to $0.4018 before climbing back to $0.4123 and terminating there for the week.

Notably, most indicators have been engrossed in the oversold zone, implying the possibility of a temporary uptrend.

Ripple Price plunges with no signs of getting up | Source: TradingView.com

However, the token’s price must create a higher low and higher high to validate this momentum reversal. This also means that the bulls must push XRP’s price up to $0.65 before it can create form a bullish trend.

What Are The Odds?

Due to the massive decline, one can only expect the XRP token to record a bullish momentum, or bullish mean reversal, temporarily. On the other hand, we can expect it to be short-term, given the present market structure. The technical oscillator’s value shows that the token...

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J.T. Ellison is the New York Times and USA Today bestselling author of more than 25 novels, and the EMMY® award winning co-host of the literary TV show A WORD ON WORDS. She also writes urban fantasy under the pen name Joss Walker.

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