Market participants intensified their sales activity at the $2.7 resistance which triggered XRP to fall sharply. Bullish momentum decline resulted in a marketplace sentiment shift toward bear control which then drove the altcoin price downward. Market participants are currently studying vital support markers to forecast the upcoming price shift.
Price indicators show that XRP shows increasing weakness in its price movements thus threatening additional price depreciation. The cryptocurrency faces prolonged decrease when bearish force continues to apply pressure while testing fresh support levels. A prompt price increase beyond essential benchmarks might bring back positive market outlook while preventing extended price declines.
XRP Tests Critical Zones
After XRP faced powerful opposition at its crucial $2.7 resistance threshold the coin shifted control to bearish traders. Timely operation loss of upward momentum led sellers to step in and push prices down. Increasing bearish market sentiment has brought XRP to positions where it may face pivotal support levels for future price movements.
XRP shows technical signs of bearishness because it trades under the 100-day Simple Moving Average (SMA) at present. Thus the SMA signals market sentiment direction and when XRP stays under this indicator it shows markets are moving bearishly.
The Relative Strength Index (RSI) displayed an attempted price recovery but this development was short-lived after missing its target of reaching 50% price resistance. The market seems to be shifting toward the hands of sellers. XRP’s future direction will be established through its upcoming market sessions since a continuing negative trend might encourage new support area tests.
Market participants need to focus on essential support levels because selling activity continues to grow. Previous price pullbacks of XRP stopped at the $1.9 support zone making it the fundamental level to observe during the current market trend. Market bearishness would intensify after breaking this support level as $1.7 represents a crucial point for future price evaluation. A market move below $1.7 will trigger further correction until XRP reaches $1.3.
Buyer participation at present or any upcoming support levels stands as a possibility to trigger an upward turning point. A rebound from either the $2.2 or $2.0 flooring zones implies that market participants aim to protect these critical support zones as they guide XRP toward important resistance areas.
This news is republished from another source. You can check the original article here