XRP is Under Pressure From a Descending Trend line: Analyst

• EGRAG CRYPTO provides insight into the development of XRP price.
• A crucial pattern on the XRP daily chart is influencing traders' sentiments.
• Technical indicators suggest possibilities of a bullish trend.
• Descending trend lines (DTL 'A' and DTL 'B') have posed significant resistance to the XRP price.
• DTL 'A' is a key indicator signaling the market downtrend and serving as a dynamic resistance barrier.
• The bearish momentum will persist until an XRP daily candle closes above DTL 'A'.
• Traders are advised to watch the lower levels between $0.43 and $0.35.
• To turn bullish, the daily candle needs to close above DTL 'A' and surge past DTL 'B'.
• The price target for this setup is between $0.65 and $0.67, with a long-term target of $1.
• XRP has been under pressure since a rally on July 23, following a favorable judgment in the Ripple-SEC case.
• XRP is currently trading around $0.49, remaining under DTL 'A' despite recent gains.

The sentiment of the article is neutral, providing analysis and insights without expressing a positive or negative bias.