Trading at around $0.51, XRP bears have fully reversed all gains posted on July 13, looking at price action in the daily chart. Although bulls are optimistic, it hasn’t been smooth sailing for these traders, and bears have been active, shaving gains and putting buyers on the backpedal.
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As it is, the path of least resistance, looking at the price action from 2023 peaks to date, is southwards.
XRP Bears Are Unyielding
Presently, XRP is down 45% from July 2023 highs. Though prices are higher relative to last week’s lows, the coin remains under immense selling pressure.
Looking at price charts, XRP prices are trending inside the August 17 trade range, a bear candlestick, suggesting that sellers have the upper hand unless there is a significant spike above $0.60 with rising volumes. This could ignite demand, lift sentiment, and allow buyers to resume the uptrend.
The ruling by Judge Analisa To
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