XRP Technical Analysis: Bearishness Grows Within Pennant

The XRP coin price surpasses creates an evening star pattern to break below the 200-day EMA. Are there any chances left of a bullish reversal? The XRP coin price shows a 9% downfall within the pennant pattern in the daily chart. Moreover, the downfall breaks below the 200 and 100-day EMAs and rests at the 50-day EMA. Will the downfall break below the 50-day EMA to give the pennant breakout? Key technical points: The XRP coin price creates a pennant price pattern. The altcoin price approaches the 50-day EMA. The 24-hour trading volume in the Ripple token is $2.61 Billion, indicating a 14% fall. Past Performance of XRP The XRP price has been stuck in a wide gap since last week between the main resistance of $0.96 with support around $0.70. After achieving a local high at $0.91 The currency is settling but without enough energy to break free of the area. The price movement of the moment has resulted in a huge pennant, which will be resolved in the near future. Currently, the market price of the XRP token is $0.7922, with a 0.72% downfall in the last 24 hours. Moreover, the XRP/BTC pair at 0.00001971 rose by 0.74% in the past 24 hours. Source-Tradingview XRP Technical Analysis After the 46% price jump from $0.53 to $0.87, the XRP coin price action forms a triangle leading to the pennant pattern. Moreover, the recent reversal within the pennant projects the possibility of a downfall below the support trendline. The crucial 50, 100 ...