XRP Momentum Lacks Conviction
For the past few days, XRP holders are not happy. The cryptocurrency is struggling to find its place back in the game but failing. Keeping in view yesterday’s stats, XRP looked good breaking above the downtrend. However, as of today, it looks like the picture is not so good again. Once the third-largest cryptocurrency is now resting below Dogecoin at the sixth spot. Today we will look into the Ripple price prediction from this point forward and also review the reasons behind the continued struggle of XRP.
XRP Lethargic Breakout
Ripple (XRP) is one of the most promising utilities in the crypto market. However, it is failing to retain its position on the charts over the past few weeks. Most of the blame goes to the SEC’s ongoing lawsuit regarding XRP’s status. Some of the experts believe that the tumbling status will continue until a decision comes out of the ongoing investigation.
Ripple Price Prediction
If we look at the technical outlook of the Ripple (XRP) market, the overall status is weak. Currently, the price of XRP is below all the three major moving averages offering resistance above the market. Moreover, the recent price action is showing bearish signs. Let’s also not forget the lack of conviction in the momentum of the outbreak. So, as long as the price remains below the 200 DMA, the bulls are not coming anywhere in the picture.
Please note that the weekly Ripple price prediction is an opinion based on the technical analysis of the crypto market as conducted by the experts.
Take a look at the Automata (ATA) price prediction here.