Ripple price analysis: XRP/USD charts death cross, price to plummet?
|- XRP/USD has gone down from $0.303 to $0.300 this Monday.
- The price has had a negative breakout from the channel formation.
XRP/USD had a bearish Monday, wherein the price fell from $0.303 to $0.300. Currently, the bulls are struggling to stay above the $0.300-level. The hourly price chart shows us that the price fell from $0.303 to $0.299. Following its brief fall from the $0.30-zone, the bulls stepped back in and took the price back up to $0.301, before the bulls corrected it to $0.300.
XRP/USD daily chart
The 200-day simple moving average (SMA 200) has crossed over the SMA 50 curve, charting the “death cross” pattern. This is a very bearish sign, which signifies that the price may fall further. The daily chart was trending in a channel formation before the price had a bearish breakout. The 20-day Bollinger jaw is widening, which shows increasing market volatility. The moving average convergence/divergence (MACD) indicator shows decreasing bullish momentum. The relative strength index (RSI) indicator is trending around 42.50.
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