Yesterday, January 7, the XRP price was in a bullish trend. The crypto’s price was retracing after the resistance at the $0.38 price level. Today, the bears have finally broken the 12-day EMA and the 26-day EMA. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

The crypto’s price is approaching the $0.36 price level, if this level is broken, the crypto will find support at the lows of $0.33 and $0.34. Meanwhile, the stochastic indicator is in the oversold region but below the 20% range indicating that XRP price is in a bearish momentum and a sell signal.

On the 1-hour chart, the price of XRP is in a bearish trend zone. The crypto’s price had tested the $0.38 resistance level and retraced on three occasions before finally repelled. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish pressure is likely to continue. Meanwhile, the stochastic indicator is approaching the oversold region but above the 20% range indicating that XRP price is in a bearish momentum and a sell signal.

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