Things are not looking good for XRP as its price has failed to reclaim a significant resistance level and seems likely to drop lower. The market is currently struggling to remain in a range, and it could initiate the next bearish leg down. Technical Analysis By: Edris The Daily Chart: On the daily timeframe, the price has failed to reach the $0.43 area again, as the bullish rebound is seemingly coming to an end. The 50-day moving average is currently acting as a critical resistance level around the $0.37 mark, preventing the price from rising further. The mentioned moving average has also recently crossed the 200-day one to the downside, often interpreted as a bearish signal. The market structure is hinting at a drop to the $0.3 level in the short term, which could be the bulls’ last resort to stop the cryptocurrency from dropping to a new lower low. Source: TradingView The 4-Hour Chart: Looking at the 4-hour chart, a classic break and retest are forming, as the price has broken the $0.37 level to the downside and has retested it. The mentioned level is rejecting the price to the downside convincingly. The RSI indicator, which suggested a likely rejection with an overbought and bearish divergence signal while the price was testing $0.37, is currently trending around the 50 mark. A break below it would likely signal the beginning of another decline which could lead to a drop toward the $0.3 support level in the short term. Source: TradingView The post XRP Bulls Fail to Reappear, is $0.30 Incoming? (Ripple Price Analysis) appeared first on CryptoPotato. Post navigation FTX Customers File Class Action Against Defunct Exchange, Top Execs: Report Uniswap Tops Other Big Crypto In Social Dominance Despite Price Drop