Ripple XRP price analysis reveals bearish tendencies that can pull the currency down to the $0.22 mark if the support fails to maintain above $0.24.
Ripple XRP price movement shows that the currency is down by over two percent since the $0.27 mark on the 14th of November.
Ripple XRP price movement: What to expect?
Among the top-five cryptocurrencies, XRP has the most significant tendency for bearish trend; reportedly, the price of XRP has dropped over two percent since yesterday.
The mid-term chart indicates that XRP has dropped through its support level of $0.2580, which tends to confirm the bearish temperament of the traders.
Considering the case, the nearest support level is likely to be at $0.25. Whilst the RSI indicator has yet not reached the oversold area, and the price could achieve such support by the end of this month.
At the time of writing, XRP is changing hands at $0.24909, while the cryptocurrency is in the reds with the rest of the cryptocurrency market.
While the cryptocurrency market is suffering not just from internal trading movements but also from the external political factors as well. The Chinese president Xi’s explanation that China is not going any lenient on the cryptocurrency market also forced the withdrawal of $10 billion capital from the market.
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