XRP is in the red today, losing grip of its recent gains as the bears act on its price. The bulls had sustained the price momentum driving XRP to $0.4688 on May 19. The asset traded within this range till May 24, when the bears dropped it to a closing price of $0.454.
But today, XRP’s price has gradually declined to the $0.451 level as the bears continue to exert pressure on its price.
More Bearish Trend For XRP
XRP is in a downtrend today, forming a second consecutive red candle on the daily price chart with lower lows. The asset trades below its 50-day Simple Moving Average (SMA), a short-term-bearish sentiment. The 50-day SMA indicates XRP’s average price over a specific period.
Related Reading: Shiba Inu All Green Today – What’s The Energy Behind The Glow?
Also, the Relative Strength Index (RSI) is 46.71 in the neutral zone and descending,
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