XRP Price Analysis: When Will The Downtrend of XRP Token End?

• XRP token is facing a continuous downtrend for the last few trading sessions, and now the coin is heading towards the previous lows of $0.65
• The digital asset dropped below all vital moving averages of 20, 50, 100, and 200-Day, while the volume also falls below the average line.
• The pair of XRP/BTC is trading under pressure at 0.00002108 BTC with an intraday loss of -4.03%; whereas, the ratio of XRP/ETH is CMP at 0.000344 ETH with a loss of -2.88% 

Over the monthly chart, the XRP token is trading on a bearish note while fails to hold the major moving averages. Whereas, the volume since last few weeks is the average line and needs to improve for a healthy recovery. 

As the global crypto market is facing a significant selloff and as a result, the XRP is also facing selling pressure. Moreover, the token is now heading towards the major support zone of $0.65, as previous lows last month. Major support over the monthly chart is at $0.65 and $0.44; whereas, resistance on the higher side is $0.98 and $1.24. 

XRP Token is Now Reached Near Oversold and Support Zone

Over the weekly chart, the XRP token is now reached near the oversold and support zone. In contrast, one can expect a good recovery if the token manages to hold $0.65 support. The technical indicators are also looking oversold, and we can soon see a good sizable recovery. Presently, the token is trading at the price level of $0.71 with an intraday loss of -9.78%, and the ratio of volume/market cap is standing at 0.08888. 

Relative Strength Index (OVERSOLD): XRP token is presently reaches near the oversold zone, and now a pullback is expected. 

Moving Average Convergence Divergence (BEARISH) currently indicates a bearish trend on the daily chart. The buyer’s signal line (green) is trading under pressure, and the seller’s line (red) is more significant. 

Support levels: $0.65 and $0.44

Resistance levels: $0.98 and $1.24. 

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