XRP Price Prediction as XRP Drops 5% in 24 Hours – Is the Rally Over?

cryptonews.com:

The XRP price has fallen by 5% in the past 24 hours, with the coin's slide to $0.776800 coming as the cryptocurrency market drops by 1%.

Coming a week after Ripple's positive decision in its case with the SEC, XRP's move today means it's up by only 0.5% in the last week, although it remains 67% up in the last 14 days and up by 125% since the beginning of the year.

And while today's slip means that XRP's post-ruling rally may have come to an end, at least in the short-term, the coin's future remains very positive, with more gains likely to follow in the coming weeks and months.

XRP's chart suggests that the altcoin may be expected to fall a little further before it can resume its rally in the medium-term, with its indicators showing increasing signs of weakness.

For one, XRP's relative strength index (purple) has now subsided to 50 and looks set to continue its drop, implying that the coin's price may not stop falling until the RSI reaches 30 or lower.

Likewise, the altcoin's 30-day moving average (yellow) has stopped rising steeply and may begin dropping towards its 200-day average (blue) very soon, with the short-term average having a long way to fall before it bottoms out.

It will therefore be interesting to see if XRP's support level (green) will resist any falls beyond $0.0770: if it can't, it's likely that it may drop all the way down to $0.070 before correcting itself.

Despite this risk, it's probable that XRP will recover sooner rather than later, with its momentum from last week still strong enough to maintain its overall gains in the medium-term.

Indeed, the ruling last week in the Ripple-SEC case remains largely positive for XRP, with Judge Analisa Torres siding with Ripple on numerous accounts and finding that sales