Since the summer of this year, the crypto market has continued with its bearish trend and Ripple XRP price trend is no exception.
Just a little while ago, Bitcoin (BTC) price experienced yet another price fall to the $7500 level, and that is exactly where it is located currently. Once again, altcoins followed
Cryptocurrency overview chart by Trading View
As evident from the chart Ripple XRP price drop is the least among the leading cryptocurrencies. Where Bitcoin is down by over six percent and Ethereum by over eight percent Ripple XRP price is down by over four percent only.
Ripple XRP price chart by Trading View
The last significant drop brought the XRP price down to the $0.242 level and since then the price maintained above the mark. However, the trend has been bearish even before the market fall following Bitcoin.
Ripple XRP price movement: What to expect?
At the time when temperament of the crypto market seemed neutral, XRP continued with its downtrend, however; today the XRP price shoot up by about two percent in the twenty-four-hour window.
Ripple XRP price chart by Trading View
Previously the Ripple XRP price chart indicated that the increase in the price could be a manipulative move rather than the beginning of a new probable reversal. However, the same increase in the price helped XRP price to stay above the market in losses.
As the volume stays low, this is technically a prerequisite of a continuous decline. The price might reach near $0.230 again and would be completing the formation of a triangle pattern. Traders could witness the aforementioned development by the end of this month. At the time of writing, XRP is changing hands at $0.23899.
Featured Image by Pixabay
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