crypto-daily.news
16 May 2022 13:47, UTC.
Reading time: ~1 m
The bulls have not stopped trying to stop XRP’s downtrend since April of this year. For now, the token is holding its losses, maintaining the $0.4205 level, but as the $0.4228 level is broken, the bear market could intensify due to shorts around the red downtrend line.
Much will depend on the daily close and whether that close is above or below the red downtrend line. The intraday price movement will be the subject of a fierce battle involving bears and bulls alike.
Experts are not ruling out a further drop in the XRP price with a test of the $0.3323 level and possibly a plunge to $0.30.
As mentioned above, a close above the trend line tonight would set the stage for a spurt to $0.4799 and confirmation of a trend change.
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