In addition, it can be observed that XRP’s trade volume has been on the decline since mid-May. The daily MACD, MFI and RSI all point towards a weakening structure by XRP that could lead to a retest of the aforementioned 200-day moving average.
To note, XRP bounced off the 200-day moving average during its dip to $0.65 last month. Therefore, if bulls fail to defend XRP at the 200-day moving average, the remittance coin will most likely go on to retest the previous low of $0.65.
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