Based

Coin

<ul class="news-points"> 
 <li>After the widespread fall in the market, XRP became the biggest loser out of the top 10.</li> 
 <li>Short-term traders can look for an entry between $0.45 to $0.49 if selling pressure continues.</li> 
 <li>The downward trajectory could lose momentum soon since the KST descended and was negative.</li> 
</ul> 
Like the rest of the market, <a href="https://coinedition.com/shib-xrp-sand-cake-all-see-increase-in-whale-activity/" rel="noopener noreferrer nofollow">Ripple (XRP)</a> witnessed a sharp decline, with the token’s value plummeting by 7.19% in the last 24 hours. The decline happened on account of Bitcoin’s (BTC) plunge to $26,000. 
According to CoinMarketCap, XRP’s price at press time was $0.50. This means that the token’s 7-day performance was the worst out of the top 10 in market capitalization. For the XRP Army, the last few weeks have not been exactly favorable. 
To add insult to its injury, the SEC got approval to file an <a href="https://coinedition.com/ripple-executives-file-opposition-to-secs-request-for-appeal/" rel="noopener noreferrer nofollow">appeal</a> motion against XRP’s partial win in July. However, traders and investors are also pondering whether this downturn presents a lucrative “buy the dip” opportunity or signals more extended bearish trends ahead. 
Based on the daily chart, XRP was deeply oversold as indicated by the Relative Strength Index (RSI). At press time, the RSI was 22.53. However, the bearish momentum coul… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/xrp-analysis-is-xrps-13-slump-a-buy-the-dip-opportunity/">XRP Analysis: Is XRP’s 13% Slump a Buy The Dip Opportunity?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

XRP Analysis: Is XRP’s 13% Slump a Buy The Dip Opportunity?

Coin Edition

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