Altcoins like $XRP and $SHIB are still in downtrend despite some recovery signs they have been showing in the last few weeks
continues as most digital assets are moving around their lows. The positive exceptions we mentioned in our previous market review are reversing today.XRP was one of the strongest performers on the cryptocurrency market in the last few weeks following the success of Ripple in court against the SEC. However, the positivity outside the market field did not help XRP to move in a sharp uptrend longer than a few weeks.
In the last two days, XRP lost more than 12% of its value and has been moving toward the next support level at the 200-day moving average. Traditionally, traders do not consider it a proper bounce level and tend to ignore it in downtrends.However, the 50-day moving average is coming closer to the aforementioned level and the possibility of a bullish EMA cross comes closer to reality. In case of a cross between the two lines, XRP will officially enter a long-term uptrend.
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