Here’s the lowdown:
1. $XRP is in a pretty strong bearish trend rn. Price dropped like -19.58% to $2.35.
2. From the technical indicators:
- Moving Averages (MAs) across all timeframes did a death cross, so short-term MA is below long-term MA.
- MACD is also flashing bearish signals with a value of -0.0568.
- Trading volume was pretty high when the price tanked, showing strong sell pressure.
3. Nearest support looks like it's around $2.1-2.2, but if it breaks below that, might be looking for lower support levels.
My advice:
- For short-term, better to wait and see coz the bearish momentum is still strong.
- Wait for a confirmed reversal or bounce at the support level before jumping in to buy.
AND DYOR (Do Your Own Research).