XRP price may be subject to a decline if market conditions persist. Key levels have been defined to gauge the strength of the anticipated move.
XRP price is getting ready
XRP price is ricocheting back and forth in a turbulent fashion between a consolidative range. During November, the XRP price fell by 32%, but the bulls were able to kick off a last-minute 25% rally. Now, as the price consolidates, there are subtle cues hinting that XRP is due for a fall.
XRP price currently auctions at $0.39. The volume indicator shows a sparse reading during the recent uptrend move. The Relative Strength Index shows a bearish divergence between the high established on November 15 at $0.399 and the lower high established on November 20 at $0.387. The XRP price is auctioning above the trendline, rejecting both divergent highs earlier in the month.
A second breach of the trendline currently acting as support could catalyze a 20% downtrend rally targeting the November low at $0.3160. On the contrary, a breach above the previous swing high at $0.407 could induce a 12% uptrend move targeting October’s broken support zone near the $0.44 price level.