Since slipping below its daily 20 EMA (red), XRP has been on a consistent slump over the last 70 days. The buyers have been able to find reliable grounds to trigger a trend-altering rally yet.

A close below the $0.29-$0.3 range could open doorways for shorting opportunities. Should the buyers recoup their strength at the immediate support, XRP could continue its sluggish behavior in the $0.32-$0.37 range. At press time, XRP traded at $0.3163, up by 3.08% in the last 24 hours.

Source: TradingView, XRP/USDT

The ongoing bearish rally found resistance near the Point of Control (POC, red) as the alt consolidated for nearly a month. On the daily timeframe, the bulls have not been able to provoke a streak of more than four green candlesticks in the last three months.

After poking its 16-month low at the $0.33-level on 14 June, XRP saw a bounce-back from the lower band of the Bollinger Bands (BB). But the $0.34 resistance denied the alt the opportunity to test the three-month trendline resistance (yellow, dashed).

The price action was relatively near its 20 EMA. Thus, a volatile move in the coming days should not surprise the traders/investors. Any decline below the $0.3-zone would open doorways toward the $0.26-$0.29 range in the coming sessions.

Source: TradingView, XRP/USDT

The bearish Relative Strength Index (RSI) flipped the 36-level from support to resistance. A fall below the 30-mark could extend the onslaught before a possible bullish revival.

Interestingly, the CMF maintained its position above the zero-mark. A sustained position above this level can prevent a substantial downfall on the charts