XRP price has been bearish with a downward trend that has been in a correction pattern which hasn’t ended and has tested the support at the $0.27795 mark (to which it rebounded to) a couple of times, thus weakening the support.
The XRP price stood at $0.297 at the start of the day and went down by as much as about two and a half percent (2.5%), at the time of writing.
Ripple XRP price analysis: Resistance/Support
The technical Ripple XRP price analysis indicators do not seem good; with the relative strength index (RSI) and the simple moving averages (SMA) residing in the danger zone.
If the bears fell to keep the price above the $0.27795 mark, then the next support will be at $0.19, reaching which will not be fun. A downtrend is sure to ensue with price creeping down the lane.
The twenty (20) and the fifty (50) day moving averages will be quite a catch if the XRP pair rises above the $0.27795 mark.
The twenty (20) day moving average will ensure a rally to the fifty (50) day moving average- above the latter resides the key support mark at 0.34229 dollars. If the bulls feel like it, they can keep going till the break the $0.45 mark.