The start of the fourth quarter of 2021 has been very challenging for the entire cryptocurrency industry. The constant price movements within the crypto-space are continuously testing the patience of the investments.
This is where XRP is facing a similar kind of trend in terms of its price. Since the beginning of the fourth quarter of 2021, the bulls have put quite the effort into boosting the price of XRP.
Unfortunately, every effort that the bulls have made so far has been nullified by the strong pressure exerted by the bears. Whenever XRP manages to gain a small rally, the bears start selling XRP. This is something that is making things quite difficult for the entire XRP community.
As of now, the psychological level for XRP is $1. Despite all the efforts, XRP hasn’t been able to meet the $1 per XRP price for a long time. Whenever XRP shows some potential and growth in its price, the bears start selling XRP at a high rate.
The bears are dominant for XRP, as they have been profiting from short-term rallies and are thus, keeping the price of XRP at a lower rate.
For now, the price of XRP is at a figure of $0.7649 per XRP. The performance graph for XRP from TradingView shows that the bulls are trying hard to bring their price all the way up to $0.85 per XRP.
The analysts predict that in the upcoming days, the bulls will be making a lot of effort in order to turn up the price of XRP. Their main goal, for now, is to boost the price of XRP all the way up to $0.85 per XRP.
Just recently, the price of XRP went below the $1.02 per XRP price, which is the 20-day EMA for the digital asset. Even the relative support index has been downsloping, landing below the 37 on the particular index.
It goes to show that despite all the efforts, it is the bears that are in control of the situation. As a result, the price of the XRP has been under the $0.85 per XRP figure. The graph predicts that the price of XRP may fall below the $0.70 per XRP figure.
However, XRP also has the possibility of going in an upward direction. The data shows that the price of XRP may rise above the $0.85 per XRP figure. In the best-case scenario, the price of XRP manages to cross the 20-day EMA, it may reduce the risks of mass-selling.
One XRP is above the particular figure, the price of XRP may proceed with hitting the 50-day SMA, which is the $1.09 per XRP figure.