XRP Price Falters Near $1 Support Amid Ongoing Bearish Pressure
XRP's price has been struggling under bearish pressure, with the cryptocurrency trading near its $1.02-$1.03 support zone.
Despite several weeks of sideways consolidation following June's decline, XRP has yet to develop a meaningful trend reversal.
The token's 20-day, 50-day, and 100-day moving averages are all above the current price, while the 200-day moving average stands at approximately $1.38.
This bearish technical structure suggests that XRP's prolonged consolidation has yet to turn into a recovery.