While the Bitcoin price soared beyond $26,000, the XRP price attempted to rise beyond $0.4 but failed. The rejection not only led the price to drop more than 8% but also rolled out a descending trend that may drag the price close to the lower support. Presently, the XRP price is struggling to stay above the interim support at $0.35 and may also succeed as a minor upswing could be fast approaching.
The XRP price in the past few hours has displayed unsettled behavior as it is consolidating losses above $0.35. The price is now trading below the 100-day SMA in the short term, where-in a major bearish trend line has formed. Therefore, the possibility of the token rising back to $0.38 in the next few days emerges.
The XRP price may maintain the bearish wave that it ignited with the rejection from the local highs at $0.4. As the price has triggered a bullish reversal, a notable upswing may lead the price high toward the resistance zone along the trend line, just above $0.38. Meanwhile, the price may face a rejection that could drag it lower than its current levels.
The trend is believed to remain constant until the price reaches the lower and major support zone between $0.3333 and $0.3375. However, before marking an entry into these levels, the XRP bulls are expected to enter and hold the price, preventing further losses. Meanwhile, the XRP price could map higher targets but may not be supported by enough bullish action.
Therefore, a consolidated upswing may prevail, until the bearish influence prevails within the crypto space.
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