Ripple XRP price is heading into a bearish breakout?

Ripple XRP price is heading into a bearish breakout?

Ripple XRP price action is going through a fix, and the situation is certainly not helping Ripple despite the expansion plans and other efforts for stability.

Analysts are also quite on Ripple XRP price action since the 12th of September 2019, since the price has seen little bearish movement until today.

Ripple XRP price saw little volatility as the rate remained between 0.25 dollars and 0.26 dollars. The price recovered from a minor dip to support back at 0.25 dollars. Ripple failed to break through the resistance level at 0.26 dollars.

Ripple’s price is still trading below the moving averages. Subsequently, the moving averages are acting as resistances.

Until the 12th of September, the fifty simple moving average across the four-four and daily chars align to form resistance at the 0.2570 dollars level. The market is uncertain and issuing no buy or sell signals.

Ripple XRP price chartRipple XRP price chart by Trading View

The upside has become a no-go zone with the resistance seeming impregnable. A lower high pattern has become the trend across the daily frames.

Ripple XRP price bullish breakout?

Ripple XRP analyst on Trading View MagicPoopCannon on the 12th of September, shared that the XRP price is headed into a bearish breakout that can give it a hefty gain of as much as six hundred and thirty percents (630%).

Ripple XRP price is heading into a bearish breakout? 1Ripple XRP price chart by Trading View

Cannon explains that the expected breakout is evident only in the long term since the current action is similar to one witnessed in 2017.

However, Ripple XRP despite that sudden gains on the 14th of September stands at 0.2623 dollars. The analysis, however, is a long term shot that may just be brewing at we write these lines. 

Given the recent uncertainty, Ripple XRP may sway in any direction, so caution is advised.

Ripple XRP price is heading into a bearish breakout?
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