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$XRP falls again under $1.4. When will the downtrend end?
Ripple ($XRP) Price Predictions: Analysis
Key support levels: $1
Key resistance levels: $1.4
$XRP’s Downtrend Continues
$XRP made a brief attempt to hold the support at $1.4, but sellers returned and pushed the price lower, which turned this level into a key resistance. Hopefully, buyers will show up soon to reverse this trend before it is too late.
Sellers Dominate
Since the start of the year, $XRP has closed 6 of 7 weekly candles in the red. That is extremely bearish and left no space for a relief rally. Considering how aggressive this selloff is, a future bounce will likely be just as significant and sharp.
Daily MACD is Bullish
Even if the price action remains bearish, the MACD momentum indicator on the daily timeframe is bullish with a positive histogram. As long as this holds, $XRP may be forming a complex reversal pattern that could see it attempt to move higher soon.
Watch closely the level at $1.4. If reclaimed again, bulls may be returning.
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