You are currently viewing XRP Bears Prevail As Asset Retreats From Recent Highs

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.

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Also, the Relative Strength Index (RSI) is 46.71 in the neutral zone and descending,

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