It has actually been an unbelievable year for the digital asset XRP, which revealed remarkable development in the last number of months. Revealing in December 2020 that the SEC would take legal action against Ripple for carrying out an unregistered securities offering had a considerable effect on the value of XRP going into the brand-new year.

XRP has actually continued to post three-year highs ever since, and reached $1.9669 in mid-April, regardless of the SEC news. Negative news struck the crypto-verse again in the last couple of days of May, resulting in Bitcoin and XRP dropping to a low of $30k and $0.65, respectively.

Crypterium research analysts anticipate that if the $0.80 support is not kept, XRP might retest $0.65. XRP is currently trading at $0.8464. This is what they stated:

"XRP price continues to drop and is down 5.2% on the week. A descending triangle pattern shows up on the chart. Buyers provide solid support around the $0.80 mark.

The coin has actually not yet shown any indications of development after the current declines. As a result, we prepare for a decline to $0.65, with a possible breakdown above that level.

The 200-day moving average is currently the last line of defense of XRP from a bear market, as is true with most digital assets in the crypto market at the moment.

XRP/USDT chart shows that the vital moving average is offering support at $0.72.

A weakened structure by XRP is visible from XRP's everyday MACD, MFI, and RSI indications, all of which indicate a retest of the 200-day moving average.

In other words, if bulls fail to safeguard XRP at the 200-day moving average, the remittance coin will probably go on to retest its previous low of $0.65.

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