Indicator signals on the daily chart remain bearish:
Trading volume: trading volumes continue to fall, which is bad for the bulls, but also shows that the bears lack the confidence to push the price much lower.
RSI (Relative Strength Index): is in a downtrend and is now below the 50 level, which indicates the predominance of sellers.
MACD: continues to be bearish, linear MACD is in the sell zone, although the MACD-Histogram has started to decline, which is a signal for a reversal.
In general, the bearish trend remains: indicators on the daily chart continue to be bearish, and the recent failure to keep the price above $ 1 indicates weakness of buyers.
At the next round of growth, the price is likely to consolidate above $ 1.00, however, the indicators on the weekly chart also remain bearish, so on the daily chart it is worth watching the achievement of a new local maximum, it should be higher than the previous one ($ 1.348). Otherwise, the price will go to the demand zone of $ 0.78-0.85.
XRP price broadly follows Bitcoin as the leading cryptocurrency also showed weakness when another attempt to gain a foothold above $ 60,000 was unsuccessful for it. According to analysts at Glassnode, this Bitcoin adjustment is the weakest this year. However, but not the fact that it is over.
#XRP #Fails #Break #Resistance