XRP Technical Analysis: $0.78 Fallout Haunts A Dip To $0.70

XRP coin price faces a catastrophic rise in selling pressure, breaking the support trendline and the $0.78 level. Will the downfall continue below $0.70? Key technical points: XRP prices have decreased by 5.36% in the past 24 hours. In addition, the price fall delays the 50 and 100-day EMA crossover. Finally, the 24-hour trading volume of Ripple is $2.415 Billion, marking a 22% rise. Past Performance of XRP XRP coin price action created an ascending triangle pattern in the daily chart thanks to the bullish reversal starting from the $0.58 mark. However, the trend failed to sustain above $0.85, and the recent selling observed in the broader market brought the prices below the support trendline. Moreover, the fallout trend breaks below the $0.78 mark with a bearish engulfing candle of 6.99% Source-Tradingview XRP Technical Analysis XRP coin price Doji candle after the immense selling observed yesterday and retests the bearish breakout. Nevertheless, the increasing pressure projects a high likelihood of a downtrend continuation to the $0.70 mark with the post-retest reversal. Due to the sudden increase in selling pressure, the EMAs showcase a sideways trend and reduce the chances of a bullish crossover. Moreover, the price falling under all the crucial EMAs represent a remarkable increase in underlying bearishness. RSI Indicator: The RSI slope fails to sustain above the 14 day average in the nearly oversold zone and cracks below ...