Convergence

Drops

Coin

<ul class="wp-block-list news-points">
 <li><strong>XRP price action has printed a series of bearish daily candles, indicating a potential downtrend.</strong></li>
 <li><strong>XRP has dropped 5.4% in 24 hours and trades at $2.39.</strong></li>
 <li><strong>The eminent launch of RLUSD and approval of XRP ETFs under Trump could push XRP higher.</strong></li>
</ul>
<p>XRP has dropped 5.44% in the past 24 hours, trading at $2.39, holding a market cap of $136.44 billion. This decline moves XRP out of the top three cryptocurrencies, sliding to be the fourth-largest by valuation.</p>
<p>While XRP rallied to $2.70 during the recent market upswing, it failed to sustain the momentum, retreating from the $3 milestone. CoinMarketCap <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">data</a> shows that XRP remains up 320% over the last 30 days, despite undergoing what analysts describe as a necessary correction.</p>
<h2 class="wp-block-heading" id="h-key-bearish-indicators-for-xrp">Key Bearish Indicators for XRP</h2>
<p>The daily chart reveals a downtrend forming as multiple candles closed below previous highs. This pattern signals reduced buying demand and increased profit-taking, which limits upward movement.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfMj-duCKOY7h9hSFx4PVZfYNHjFFZyo19KBfX-DKBdGF2hI99cSQXmJRuYPk1PudlrGVxsTzSBRMBdJf2HdLzNyTUAH815TRhLktZ7qukxQCIr09MyF-kpM4Y0ZU8HuG2TtuMU4A?key=WIVNwJ1WIUbluaMLhpipu9bB" alt="">
 </figure>
</div>
<p>Another major bearish signal is the possibility of a bearish divergence on the MACD (Moving Average Convergence Divergence) indicator. The signal line and the MACD line are coming very close to each other and if the…</p>
<p>The post <a href="https://coinedition.com/xrp-price-drops-5-key-support-and-bearish-trends-explained/" rel="noopener noreferrer nofollow">XRP Price Drops 5%: Key Support and Bearish Trends Explained</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

XRP Price Drops 5%: Key Support and Bearish Trends Explained

Table of Contents

Coin Edition

Other articles published on Dec 9, 2024

ADGM’s Framework for Fiat-Referenced Tokens: Key Highlights

Farcaster Introduces Snapchain for Faster Social Networking

MicroStrategy Bitcoin Purchase Expands Again With $2.1 Billion

Bitcoin Surge: Why Analysts Predict a $200K Price by 2025

Vitalik Buterin Responds To Nick White’s Discussion On Blockchain

BTC Price To Go Here: Bitcoin Unrealized Profits Below Bull Market Peaks

Join our free newsletter for daily crypto updates!