Key Support Level: $0.58

Key resistance levels: $0.70

After a turbulent night, XRP failed to sustain above $0.70 and the price turned this key level into resistance. The next essential support is found at $0.58. The cryptocurrency seems most likely to test this level before any hope of recovery.

Chart by TradingView

technical indicators

Trading Volume: Volume is increasing. Sellers have the upper hand and buyers seem more likely to intervene at lower levels.

RSI: The daily RSI is making lower lows and is approaching the oversold area. It will likely drop much lower before a bounce can be expected.

MACD: The daily MACD is down and falling fast. The speed of this fall is intensifying.

Chart by TradingView

Bias

The current trend of XRP is bearish.

Short-term forecast for XRP price

With a turbulent market, cryptocurrency is likely to drop much further before stability is found. The first key support level is found at $0.58. Fortunately, buyers can break the downtrend at this level.

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