Ripple Price Falls Below $0.43 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...
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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