XRP Technical Analysis: Prices Falls As Exhausted Bulls Take A Rest

The XRP coin price shows the uptrend struggling to rise above the $0.90 mark as bulls get exhausted after the 45% price jump in the past week. Ripple is a protocol for payment that makes use of blockchain technology to handle international transfer of money. It is a low-cost transaction service and extremely fast processing time It has also partnered with a variety of financial institutions who use its technology. Let us move ahead to read about Ripple technical analysis. Past Performance of XRP The XRP coin price shows a phenomenal bullish week with a growth of more than 40% resulting in the falling wedge breakout. In our previous article, we mentioned this possibility of a post-breakout rally. Furthermore, the rally breaks above the $0.80 mark and continues to approach the $1 mark. However, the price action shows higher price rejection above the $0.90 mark results in a reversal and projects the possibility of reversal. XRP/USD Daily Chart XRP Technical Analysis The XRP coin price action shows the possibility of a tweezer top formation near the $0.90 mark as the sellers revolt to gain trend control. However, the retracement may test the $0.78 horizontal level before regaining bullish momentum. The crucial Exponential Moving Averages (50, 100, and 200) maintain a bearish alignment as the price struggles to rise above the 200-day average. Moreover, the reversal in the 50 and 100-day averages showcase the rise in the underlying ...