At the time of writing, the trading price of the XRP/USDT pair is $0.86 per XRP. It took the bulls a lot of buying power and consistency in order to bring XRP to the current level. Even after reaching a particular price, the bulls are still finding it difficult to match the selling prowess of the bears.
The bears have been trying really hard to make their presence known. They are showing great resistance at the $0.86 per XRP mark, and are attempting to bring the price of XRP much lower.
There is currently great friction between both sides at the particular mark and both are trying to gain superiority over the other. The particular mark can prove to be a turning point for either side. Therefore, each side is showing a lot of buying and selling momentum to gain the lead.
Current XRP Sentiments are Bullish
For now, the bulls seem to be taking a lot of fire from the bears but they have demonstrated really strong sentiments. This is the reason why they have managed to sustain the pressure coming from the bears for such a long time.
Despite all the pressure, the bulls have not given up and they are also observing strong backup from the investors with high positive sentiments. Their combined efforts against the bears have made it clear that they have no intentions of exiting the accumulation or the hodling for XRP.
If the bulls manage to increase their accumulation power, then the situation would fall in their favor. At present, the RSI and the moving averages are also indicating a bullish movement for XRP.
If the bulls form another strong rally and the pressure over the bears keeps rising, then XRP price may surge to $0.91 per XRP.
With a high determination, the bulls may continue pushing harder against the bears, moving the RSI and moving averages even higher. This would eventually result in XRP being able to hit a high price of $0.95 per XRP.
The bears may try and turn the situation in their favor by increasing sales for XRP. They may try and push XRP below the $0.90 per XRP mark but if they fail, then XRP’s value may surge to $1. At present, the $1 mark is the strong psychological level for XRP.
In Case the Bulls Exit
On the other hand, if the bulls end up exiting at $0.86 per XRP, giving up to the high resistance of bears, then the situation may change completely. The RSI may shift to the negative territory, becoming highly favorable for the bears.
With strong negative sentiments and the trend on their back, the bears may go on to bring XRP down to $0.77 per XRP. At present, the $0.77 price is the 50-day SMA for XRP.