XRP Hangs by a Thread as Bears Close In

XRP's price has been stuck below its moving averages since early June, and it is currently trading around $1.07.

The asset has lost bullish momentum after multiple unsuccessful attempts at recovery over the past month.

The 26-day, 50-day, and 100-day exponential moving averages are among the major EMAs that XRP is still trading below.

The long-term trend has not yet recovered, as evidenced by the 200-day EMA, which is still significantly higher at $1.39.

XRP's price action lacks conviction, with volume steadily decreasing over the last two weeks, indicating that buyers and sellers are both awaiting a catalyst.