XRP price analysis

The bulls could not build upon XRP’s bounce off the crucial support at $0.46 on June 7, showing a lack of demand at higher levels.

XRP/USDT daily chart. Source: TradingView

Both moving averages have started to turn down, and the RSI is in the negative zone, indicating that the bears are in control. If the price turns down from the moving averages, the bears will again attempt to sink the XRP/USDT pair below $0.46.

On the upside, a break and close above the moving averages will suggest that the bears are losing their grip. The pair may extend its consolidation between $0.46 and $0.57 for a few more days.