XRP Firm But Weak: Will Ripple Bears Force Prices to $0.30?

XRP is bearish and trending below $0.46, meaning sellers are in control despite the 11% expansion over the weekend. At press time, prices are consolidating horizontally. From the candlestick arrangement, traders might consider selling on every attempt high, attempting immediate resistance. Only this preview will shift should prices not only expand back to the range but surge to over $0.55, fueled by rising trading volume.

At press time, XRP is down roughly 5% on the last day and 12% on the previous week. Though prices are volatile, considering the sharp drop of last week and the near-instant recovery over the weekend, participation remains low, at less than $1 billion. Engagement will expand in the days to come, especially if prices continue trickling lower in the sessions to come. For now, a breach of $0.40 might push the coin lower, even to $0.35 and $0.30, triggering more liquidation.

The following XRP and Ripple news are trending:

• Even as prices consolidate and drop, per the performance of last week, some analysts are upbeat.  Citing technical analysis, they expect prices to shoot higher, ripping above $0.74 in a bull trend continuation formation.
• By 2025, the XRP Ledger would be processing up to $50 trillion. This is according to the CEO of Archax, a trading platform. The expansion will be due to the rise of tokenization, a step increasingly popular on Ethereum.

XRP Price Analysis

XRP/USD is stable and bearish.

From the daily chart, the coin is moving within a bear breakout formation.

The immediate resistance is $0.46.

As long as prices are below this liquidation line, every attempt high may be an opportunity to dump, targeting $0.40 and $0.38, marking last week’s low.

Further losses may see XRP sellers ride the breakout of last week to $0.30.

If not, a recovery above $0.55 will cancel this bearish outlook set in motion on April 13.