The post Ripple News: Here’s What Next For XRP Price In Coming Days appeared first on Coinpedia Fintech News
The XRP market continued to face bearish sentiment in the short term following a false breakout earlier this month. On the daily time frame, the XRP price is likely to have formed a double top that could spell a further downward trend in the coming weeks. Nonetheless, the XRP market has not issued a clear trend outlook in either direction, mostly caused by low trading volume. Moreover, most centralized exchanges in the United States have delisted XRP pending the ruling on the SEC vs Ripple lawsuit.
Cheeky Crypto’s Perspective on XRP Market
According to an analyst from a popular YouTube channel with more than 150k subscribers, Cheeky Crypto, the XRP price is facing more downward pressure after a strong rejection of around 54 cents. The analyst noted that the XRP price on the daily time frame has been experiencing strong wicks in either direction. Essentially, such wicks occurring on a daily time frame show a lot of indecisiveness in the market between the bulls and bears.
From another perspective, the analyst noted that the XRP price on the daily time frame has been forming a bearish flag that could result in further decline in the coming days.
Amid the bearish sentiment, the Cheeky Crypto analyst thinks now is the best time to accumulate more XRP assets in anticipation of Ripple winning against the SEC. Moreover, Ripple has proved beyond reasonable doubt that the SEC’s arguments are biased based on Hinman’s documents.