has once again lost touch with the market and dropped below the fundamental $0.5 mark. It is not the first time XRP lets people down, but its continuous inability to move upward raises some serious questions.
The cryptocurrency has been having trouble staying afloat in the face of larger market swings. If investors were expecting a recovery, the recent decline to a multi-month low is a worrying indicator. Bearish sentiment still rules the XRP market as seen by the inability to maintain gains above $0.5.
Technical indicator analysis reveals that XRP has been struggling with a number of significant moving averages. The current price action below the 200-day moving average (black line), which acts as a crucial long-term support level, is a bearish signal. The difficulty XRP is having in regaining upward momentum is further highlighted by the 50-day, 100-day and 26-day (green) moving averages. As a result of ongoing selling pressure, the price has continuously failed to break above these moving averages.
These moving averages' convergence points to a lack of significant directional movement, which frequently occurs before important price shifts. XRP's recent movement has regrettably been negative.
source https://www.investing.com/news/cryptocurrency-news/xrp-reached-multimonth-low-solana-sol-on-strongest-support-bitcoin-btc-price-drop-is-better-than-you-think-3476815