The turbulent nature of the crypto market has once again been highlighted this week, with XRP’s ($XRP) price suffering a 10% drop.

Amid fluctuating market conditions, this drop has left investors wondering whether the token’s recent surge was temporary and not a sign of a long-term upward trend.

However, amid XRP’s bearishness, the new token BTC20 ($BTC20) is bucking the trend and demonstrating impressive momentum in its ongoing presale phase.

XRP Price Faces Pivotal Moment as Bulls & Bears Battle it Out

The $XRP price is down 10% in the past week, falling from around $0.779 to the current price of $0.706.

This downturn has taken many in the crypto market by surprise, considering the token’s remarkable surge in the previous week.

XRP’s price appears to be returning to the 20-day Exponential Moving Average (EMA), broken during its surge following reports about the positive ruling in the SEC vs. Ripple legal battle.  

Due to this, the next few days could be pivotal in determining which direction the price goes.

If the 20-day EMA holds as support, it would confirm the overall optimistic sentiment for $XRP is still intact, opening the door for the price to return to the local highs of $0.850.

However, a break below the 20-day EMA could signal a deeper pullback is on the cards.

Thus, traders will be closely watching to see if the price bounces from the nearby EMA or if more downside is in store be

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Author: BeInCrypto Team

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