XRP has lost critical support, where is the next level?

                                                            XRP nähert sich einem wichtigen Unterstützungsniveau, nachdem es die meisten Gewinne der letzten Woche verloren hat.

Major support levels: $ 0.75

Key Resistance Level: $ 0.89, 1

XRP broke below the critical $ 0.89 level on Tuesday as most of the crypto market saw a downturn Bitcoin fell below $ 50,000. Now the key level – $ 0.89 – has instantly turned into a key resistance. On the flip side, the next support is at $ 0.75. As long as general market sentiment remains pessimistic, XRP will likely retest this important level of support.
Chart according to TradingView

Technical indicators

Trading Volume: This correction has resulted in a decrease in volume, indicating a lack of conviction among sellers. Nevertheless, the XRP price has fallen significantly due to the lack of buying pressure.

RSI: The daily RSI has fallen below 50 and the momentum is clearly bearish.

MACD: The daily MACD is on the verge of a bearish crossover as long as this short-term downtrend persists. The histogram and moving averages are only a few days away from turning negative.
Chart according to TradingView

Bias

The current XRP bias is bearish and re-testing of critical support is very likely given current market conditions.

Short term forecast for the XRP price

XRP failed to hold its price from the recent rally and wiped out weeks of gains. XRP has been heavily influenced by overall sentiment, which puts it on a clear path back to the next critical support level at $ 0.75.

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