XRP price forced below $1.1 and the 100 SMA following overhead pressure at $1.2.
The MACD and the RSI emphasize the emergent selling pressure, risking Ripple’s freefall to $1.
Ripple had gradually and with struggle rose to $1.2 during the weekend session. In September, the international money transfer token lost ground to $0.86. The lower prices allowed more buyers to come, thus lifting the token above $1. Bulls have their eyes glued on $1.4, but the barrier at $1.2 and $1.1 currently limit their efforts.
XRP Price Faces Short-term Resistance At the 100 SMA
Ripple trades around $1.09 at the time of writing. This follows a rejection from $1.2, as mentioned. The 100 Simple Moving Average (SMA) emphasizes the immediate resistance. If bulls do not recover above this level, and by extension $1.1, overhead pressure is bound to increase, leading to more losses to $1.
The Moving Average Convergence Divergence (MACD) adds credence to the bearish outlook. A sell signal will likely confirm in
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