Ripple (XRP) price has remained in the bearish trend and it has declined to $0.30 level. Yesterday, it was expected if the price drops to $0.30, XRP price could find support. Nevertheless, the bears broke the aforementioned level and continued the downward trend.
The bears have remained in action and have dragged the price down to a range between $0.28 and $0.34. Today, at the time of writing, Ripple price is trading at $0.29 and the bearish trend is yet to be broken. As the chart shows, the Stochastic indicator is in the oversold region at range 20, which is an indication of a bearish momentum and a sell signal.
Meanwhile, the 4-hour chart shows that XRP is in a bearish trend. Looking back to March 21, XRP bears broke the 12-day Exponential Moving Average (EMA) as well as the 26-day EMA as Ripple price kept on falling. Moreover, Stochastic indicator is also in the oversold region just below 20, an indication that Ripple’s strong downtrend, and also a sell signal.
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