Technical analysis by KaKazazy about Symbol XRP: Sell recommendation (4/23/2024)

Hello everyone, what are your thoughts on XRPUSDT today? Today, XRPUSDT continues its downward trend, currently fluctuating around $0.05444, marking a 2.1% decline this Tuesday. This coin remains under selling pressure as it's stuck in a long-term downtrend channel. The outlook still leans bearish as the price remains below the dynamic resistance levels of EMA 34 and 89, without any signs of a reversal. As long as this price channel remains unbroken, XRPUSDT will likely face continued selling pressure. Keep an eye on the $0.05810 area as the price approaches the channel's boundary; breaking beyond this could pave a new path for the coin. Meanwhile, the sell strategy remains preferable as long as the bears firmly hold the price channel. Wishing you all successful trading and profitable outcomes. Don't forget to share your views in the comments below!Trade active