XRP Breaks Below EMA55 | Bearish Signal In The Making...

1 set

XRP has been holding above EMA55, challenging this level as support.

Today, the action just moved below this level.
Last time this happened in April a major drop followed, this is also true in early August.
(Breaking below EMA55 preceded a strong drop.)

We are looking at the daily timeframe and the day is still young so this signal needs confirmation.

Looking at the action preceding the current state of events: Long-term and short-term lower highs, as well as strong bearish action, the probabilities are leaning towards a bearish continuation.

Thank you for reading.

Namaste.