- Ripple revamped the trend upwards leading to a correction above the 50 SMA 1-hour and the 100 SMA 1-hour.
- In the short-term XRP trend will remain bearish bias until a reversal is realized above $0.34.
XRP/USD is trending lower 1.85% on Thursday. The declines come after the digital asset failed to sustain the trend above $0.3700 during the recent crypto surge. Ripple revamped the trend upwards leading to a correction above the 50 SMA 1-hour and the 100 SMA 1-hour. Additional gains in successive bullish pulled XRP above $0.33, $0.34 and it settled shortly above $0.35 before attacking the resistance congestion zone at $0.37.
The 1-hour chart shows the price having cleared the support at $0.34. XRP/USD is dancing with $0.3369 amid a growing bearish momentum. It is important that the bulls defend the support at $0.33, otherwise, XRP/USD could slide lower towards $0.32 support and even refresh the levels heading to $0.30 (demand zone).
Technical levels have turned bearish after two-days of overbought conditions. The RSI has been ejected from the region above 70 and is heading south at 48.57. The same trend is displayed by the MACD whose signal line is dropping fast 0.0071. In the short-term XRP trend will remain bearish bias until a reversal is realized above $0.34.
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