$XRP price closed below its 100-day EMA at $2.30 last week and declined 12.40%. In the last two days of this week, it stabilized around the $2.14 level. At the time of writing on Wednesday, it trades slightly down around the $2.09 level.
If $XRP continues correcting, it could decline to test its next support level at $1.96.
The RSI on the daily chart reads 39, below its neutral level of 50, like Bitcoin and Ethereum, indicating bearish momentum.
On the other hand, if it continues to recover, it could extend the recovery to its previously broken 100-day EMA at $2.30.
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