Ripple price eyes $0.5000
Ripple (XRP) price has recorded a series of lower highs and lower lows over the past four days after a rejection from the upper boundary of the descending parallel channel. After crossing below the signal line, the RSI is below 50, showing the market is leaning to the downside. The red histogram bars of the AO accentuate this and add credence to the bearish thesis. In a dire case, Ripple price could roll over to the $0.4734 support floor
On the other hand, enhanced buyer momentum could send Ripple price above resistance stemming from the upper boundary of the channel, with a decisive candlestick close above it setting the pace for an extension to $0.6000. Such a move would constitute a 12% climb above current levels.
