- The MACD and Aroon indicator revealed a bearish bias for XRP.
- XRP’s price might decline to $0.48 if bulls fail to defend the $0.52 support.
- The Supertrend on the daily timeframe suggested a sell signal for the token.
Ripple (XRP) price fell to the $0.55 support as bulls failed to push the price higher. According to CoinMarketCap, the decrease meant that XRP has lost 10.54% of its value on a Year-To-Date (YTD) basis.
From the 4-hour XRP/USD chart, a short-term bullish move to $0.60 might be invalidated. One of the reasons for this prediction could be linked to the resistance at $0.58.
XRP/USD 4-Hour Analysis
Bulls had attempted to push the price of XRP higher. But bears gained momentum, highlighting how bullish had lost control of the market. Under a strong bullish influence, XRP might return to $0.58. But this would require an increase in buying pressure which the token currently lacked.
But a highly bearish situation might send XRP downwards. If this is the case, the price might pull back to $0.52. Ability to defend the $0.52 support might trigger a rebound. However, if bulls lose hold on $0.50, the next level XRP might hit could be around $0.48…
The post XRP’s Price Flashes Sell Signal: Is $0.48 a Likely Target? appeared first on Coin Edition.