XRP Price Slides Below $1 Again, Is The Flip On The Horizon Or Accumulation Is Imminent?

XRP Price

The crypto space experienced a small sigh of relief for just a couple of days and yet seems to have fallen into the bearish well again. No sooner than Bitcoin price loosen its grip over the uptrend, the bears quickly jumped into action. And hence, many altcoins including XRP price are flowing through a notable downtrend. 

The XRP price amid the recent sell-offs had barged through the uptrend line and dumped hard below $1. With a small flip, the asset regained its position back above $1 but woefully it appeared to be short-lived. As the price yet again crumbled down below $1 yet again. The price is facing a notable dump as the technicals also showcase a bearish trend. 

XRP price despite a downtrend still sustains above one of the strong support levels around $0.89. And hence keeping the hope of a notable flip towards the upper resistance levels alive. Woefully, the volume has dipped drastically by more than 7% which is a small matter of concern right now. However, the bull may enter the ring to accumulate the asset at discounted prices and in turn uplift the price above $1 very soon. 

Collectively, XRP price manifested a fake-out as reported by Coinpedia earlier. And hence considering the current trend and technicals, the asset could reverse the trend shortly. The price may not only attain the resistance levels at $1.1 but go beyond and hit the strong resistance levels at $1.3 soon. 

Original Source :coinpedia.org

Want to know how to start investing in Cryptocurrencies and Stocks? Click here and get more information about the top investing platform available.

Want to receive the latest stock and cryptocurrency news and investing ideas that can help you make money ?! Subscribe to our newsletter. Enter your email below and hit the subscribe button.

Want to know how to start investing in Cryptocurrencies and Stocks? Click here and get more information about the top investing platform available.

If you want professional consultation regarding stock or cryptocurrency investing leave your information below and experts from our trusted partners will reach out to you

Subscribe

* indicates required

Buy crypto instantly on Uphold