{"id":491134,"date":"2022-05-23T13:23:06","date_gmt":"2022-05-23T13:23:06","guid":{"rendered":"https:\/\/wncen.com\/?p=491134"},"modified":"2024-06-11T14:20:03","modified_gmt":"2024-06-11T14:20:03","slug":"ripple-xrp-plunges-to-0-43-with-bears-in-full-swing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-plunges-to-0-43-with-bears-in-full-swing\/","title":{"rendered":"Ripple (XRP) Plunges To $0.43 With Bears In Full Swing"},"content":{"rendered":"
Ripple (XRP) has plummeted to $0.43, with bears now skyjacking the market following a tremendous drop in the past week. <\/span><\/p>\n While the price seems to have improved in the past couple of days, the bulls have somewhat shoved bears to their current market movement.<\/span><\/p>\n The past week did not look suitable for Ripple traders and investors as XRP collapsed to a drop of 42% and closed at $0.4255. <\/span><\/p>\n The entire week was seen to drift following a bearish movement which dropped to $0.4018 before it regained momentum to $0.4123 for the week. This indicates an oversold token that implores the potential of an uptrend.<\/span><\/p>\n Suggested Reading | Bitcoin Reclaims $30K Territory After Recent Weeks\u2019 Struggle \u2013 Analysts Weigh In<\/a><\/em><\/strong><\/p>\n However, the token price is yet to produce a higher low and a higher high to authenticate the created moment, which in effect points out that bulls will have to nudge the price of XRP to $0.65 before it instigates a new bullish trend.<\/span><\/p>\n XRP is expected to dash to a bullish trend as things go down. However, the bullish streak can be short-lived as a result of the current market situation. The technical oscillator\u2019s value would show you that the token has ticked off the lows in the charts (hourly, daily, and weekly).<\/span><\/p>\n It falls right under both the 50-day and the 100-day Exponential Moving Average. It is an escalation of the buying pressure that could ram the price to shoot, targeting the 50-day exponential moving average even before it tests at the $0.50 mark.<\/span><\/p>\n <\/p>\n In different circumstances, the drop of XRP indicating a bearish shift could trigger the coin to go on with a new downtrend. If XRP breaks under the current low value, it will test the low of $0.40.<\/span><\/p>\n While every token strives for decentralization, Ripple wholly owns XRP and wants to be the coin that aims for bank adoption. Ripple is also a payment gateway as much as it\u2019s a cryptocurrency. It\u2019s one of the pioneering tokens in the crypto space created by Ripple Labs in 2012.<\/span><\/p>\n Suggested Reading | Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming<\/a><\/em><\/strong><\/p>\nWill Ripple Dash Towards A Bullish Streak?<\/b><\/h2>\n
XRP total market cap at $20.5 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
Ripple Price Descending For Good?<\/b><\/h2>\n