CandleFocus Ripple (XRP) Price Could Decline 17% as Bearish Signals Persist
2024-10-08
Author: Content Editor
The Ripple (XRP) price has been negatively impacted by bearish technical signals and legal developments. However, the Relative Strength Index (RSI) has moved from oversold levels, indicating a potential easing of selling pressure. While this suggests a relief rally, it does not necessarily indicate a trend reversal. The RSI of 41.60 shows stabilization but still reflects selling pressure. The current market sentiment, as shown by the DMI chart, is dominated by bearish momentum. The death cross formed by XRP's EMA lines further reinforces the downtrend. If the bearish momentum continues, the price could decline further, but if it reverses, it may retest resistance levels and potentially see an upside of 26%.
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