XRP Prices Tumble Under Pressure from SMA and Momentum Indicators

XRP (XRPUSD) prices have been trending lower in recent intraday trading due to resistance at its 50-period Simple Moving Average (SMA), which has reinforced the prevailing downside pressure.

The cryptocurrency's negative bias has been further strengthened by fresh bearish signals from momentum indicators after they reached overbought territory.

XRP has also come under pressure following its breakout below a short-term ascending price channel that had previously contained its upward movement, increasing the likelihood of further losses in the near term.

According to Economies.com, our outlook remains bearish for the cryptocurrency's upcoming trading sessions as long as resistance at $1.1135 remains intact.