XRP Bears Gain Upper Hand as Price Action Remains Below Key Levels
XRP's price action is currently bearish, pinned at $1.08 beneath a stack of moving averages that favors further downside with a probability of around 60/40.
The chart shows XRP trading below its 7, 20, 50, and 200-day simple moving averages, which is not a pullback but a broken structure.
Momentum indicators are flatlined near mid-range, indicating buyers are hesitating to commit capital at these levels.
The stochastics are drifting toward oversold, but in isolation, this would hint at exhaustion of selling pressure. However, stochastics can ride oversold for days in a trending bear market.
Key levels exposed show that $1.09 is the immediate resistance level, where the EMA 12 and SMA 20 converge, while $1.10 is the real wall, with multiple strong resistances piling on top of each other.