XRP is currently trading at $ 0.255 with a market value of $ 11.6 billion. After the SEC’s lawsuit, the XRP price remained more stable than usual. Being unresponsive to this bull run can be troublesome for XRP holders. At the time of this writing, the token displays very little volatility and stable selling pressure.

 

 

If there are no positive developments around the ongoing lawsuit, we are quite likely to see further dips for XRP.

Will XRP rise?

The 4-hour chart of XRP highlights the price against the bearish trend line, symbolizing the decreasing buying pressure in the market. Continuing this could cause the horizontal / inclined support to collapse. This could lead to a decline towards the next support level at $ 0.2081. This decrease can occur at a rate of 18% from the current price of XRP. As time progresses, the price will become more constrained and likely to be forced to break.

The RSI indicator has made a bounce from the oversold zone, but if the selling pressure continues, the RSI could fall into the oversold zone.

The OBV indicator painted a very similar picture to the RSI and implied a decrease in buy / sell pressure, which may explain the reduced volatility.

See Also
Three Major Crypto Companies React To Ripple Case, XRP Price Drops

 

Likely to fall

The MACD indicator reflects a lack of volume and momentum as both the MACD and Signal lines move close to each other. However, as both lines were below zero, it showed that the selling pressure, no matter how small, dominates the XRP.

The continuation of this trend will cause the price range to narrow, which may result in a decrease in volatility. A downward break from here could lower the price to $ 0.2081, the first emergency support XRP will face. Violation of this level can pull XRP down by 23% to $ 0.1956.

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