đBitcoin enthusiasts, buckle up! Let's talk about XRP, which has taken a bearish turn after failing to break key resistance.đ
Firstly, XRP's price was rejected at the key resistance of 55 cents. Sellers put the brakes on a second attempt to break this level, and since then, XRP has been bearish. Unless buyers muster the strength to break this level, new highs for this cryptocurrency seem unlikely.đ
Secondly, XRP's volume has been in free fall since its most recent high in March. With consistently lower highs over the past two months, it's clear market participants are currently not keen on returning to this market.đ
Lastly, the MACD (Moving Average Convergence Divergence) made a bearish cross this week on the daily timeframe. This suggests lower lows are likely in the future, especially if the support at 48 cents falls. Keep an eye on this key support - it could be decisive in the coming days.đ
While XRP's current outlook may be bearish, remember, in the world of crypto, things can change in a heartbeat! Stay tuned for more updates.đđ
