XRP Gives a Fresh 52-week Bottom; Anticipated to Fall Even Further
- XRP price continues to decline and gives a fresh 52-week low at $0.175 just today
- Ripple trades extremely bearish as it takes a rapid downturn from the trading price of $0.200
- The coin fails to gain support from the short-term as well as the long-term MAs
Ripple currently trades at the lowest of the year and continues to draw a bearish line as we observe a steep fall formed since the mid of November. Analyzing the 2-month movement of XRP/USD, we see a failed uptrend forming where the coin lost 50-days MA support. The current trading price is, however, above the fresh bottom hit, today.
Ripple Price Analysis
Taking a glance at a 5-month movement on Coinbase, Ripple to USD has been moving with moderate volatility. The recent fall has led the coin to lose the important supports, while the 200-day MA has been left untouched in the said time duration as it is majorly declining.
The uptrend that was anticipated to form after the mid of October, which could have possibly hit the 200-day MA at $0.2990 was failed as the bears hit the price of XRP.
The coin has recorded a cumulative fall of over 42% from trading at $0.3317 to currently bottoming out at $0.1897.
Technical Indicators
The MACD of the coin confirms the bearish outlook as the MACD line runs below zero, and the signal line cuts the MACD line from below.
The RSI of XRP is at 30.70, which has slightly recovered from the oversold range as the coin grew from the 52-week fresh bottom.
