Ripple (XRP) price isn't in its most positive period and could be turning into a negative technical trend. The reason for this is the reality that XRP price movement broke above an significant price cap, but it could not surpass it on Sunday night. The road is set for a bull trap. With market sentiment officially declared to be in an bearish market, the chance for a negative outcome appears to be around 80% with just a 20% chance of a reversal on Sunday night which is enough to avoid that bear trap.

XRP price at risk of fully paring back last week's gains

Ripple price recorded its highest run of 2014, with more than 30% gains already in the books at the close on Sunday night. The bulls were having a blast as they did in 1999 when they pushed the 200-day Simple Moving Average got broken to the upside and investors are looking for a new bull run in the coming week. However, bulls lost the ball in the final trading hours due to the first result from the Italian election. They slipped under the 200-day SMA which could provide an opening in the price movement for bears to exploit.

Price of XRP currently is within a bear trap set-up and, as long as the price does not even close above the 200-day SMA, the price may continue to the downside , and then pair with the losses made the previous week. With the numerous tail risks, which grew this week, with the sabotage of the final remaining pipeline of gas towards Europe and US equity prices breaking into zone of bear markets There isn't any silver linings within the pipeline to cause a dramatic turn. The move that occurred that occurred last week, to not be an actual break and the price to fall to at most $0.3616 in the coming week.

Should price action reverse on Sunday night and then rise over $0.48 Expect the price action from last week to show an increase in the following week. We expect $0.4974 is likely to be tested and must be broken up to the upside to continue the upward trend. On the other hand, $0.5563 looks the right option for a retest of the week's high.

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