XRP (XRPUSD) price continued to decline in its latest intraday trading, breaking below the key support level at $1.2755, which is a clear indication of the strength of the negative pressure surrounding the cryptocurrency. This comes amid the dominance of the main bearish trend in the short term, with the price moving alongside a trend line supporting this path, while continued trading below its 50-day SMA maintains negative pressure and reduces the chances of a full recovery in the near term. In addition, negative signals continue to emerge from the Stochastic indicators despite their stability in deeply oversold territory.

Therefore we expect the digital currency price to decline in its upcoming intraday trading, especially as long as it remains below the $1.2755 level, targeting the next support level at $1.2020.

Todays price forecast: Bearish.