The XRP technical data turns sharply bearish, falling to $ 0.45

• Ripple is struggling tooth and nail to stay above the SMA 50 as the decline to $ 0.45 lingers.
• The XRP / USD bearish outlook was validated following a break below the rising wedge pattern.

Ripple has not gathered enough strength to break out of the overhead resistance at $ 0.7 despite having shown a robust bullish front for the past seven days. The cross-border token is on the verge of a massive slump, especially if the price slips below a crucial short-term anchor.

The possible Ripple breakout points to $ 0.45

XRP recently broke below a critical ascending wedge pattern. Generally, these types of wedges are used in technical analysis to signal potential reversals after long bullish trends. For example, XRP recovered significantly from last week’s support at $ 0.45 but failed to break the seller’s congestion at $ 0.7.

When bears take action, the bullish pressure decreases by a large margin, hence the pattern break. For now, Ripple is trading at $ 0.61 while maintaining the 50 Simple Moving Average (SMA).

The cross-border token is likely to resume its downtrend if losses extend below the moving average. A look at the chart highlights the next life support area between $ 0.45 and $ 0.50, strengthened by the SMA 100.

XRP / USD 4-hour chart

The bearish narrative was emphasized by the downtrend Moving Average Convergence Divergence. A bearish divergence below the MACD shows that XRP is gradually falling into the hands of sellers.

The TD Sequential Indicator recently presented a sell signal in the same 4 hour time frame. The call showed a nine green candlestick. If the critical support mentioned earlier in the 50 SMA caves, the impact of the sell signal could continue to push XRP to further losses. In the event that Ripple’s supply rises, a significant downtrend could come into play in the short term.

XRP / USD 4-hour chart

On the other hand, XRP could renew the uptrend and begin the journey to break the barriers to $ 0.1, especially if the price closes above the 50 SMA daily. Trading above the critical barrier at $ 0.7 will also lend credibility to the bullish outlook.