Ripple price remains on a downtrend as fear remains the key emotion driving the crypto market. The crypto fear & greed index is back to extreme fear after easing at the beginning of the week. Tuesday’s reading of 21 is a decline from Monday’s 28. In comparison, the index was at a greed level of 74 in the past month. For as long as risk aversion persists, cryptocurrencies will likely continue on the current trajectory.
Ripple price prediction
XRP has been trading below the psychologically crucial level of 1.0000 since early December. The move was an acceleration of the downtrend that began a month ago when it hit a two-month high at 1.3516.
At the time of writing, Ripple price was up by 0.36% at 0.7841. On a four-hour chart, it is trading below the 50 and 200-day exponential moving averages. Based on both the fundamentals and technicals, the altcoin will likely continue on a downtrend in the short term. In my opinion, the key support-turn-resistance level of 1.0000 will remain evasive in the ensuing sessions.
Based on the bearish outlook, the range between the support zone at 0.7458 and the 50-day EMA at 0.8370 is one to look out for in the near term. A decline past the range’s lower border would give the bears an opportunity to retest December’s low of 0.6546. On the upside, a move above the upper border will likely place the resistance level long the 200-day EMA at 0.9484.
