Over the last week, the XRP token faced significant resistance after facing strong rejection at the $0.2600 level. The resistance at the $0.2600 level. It declined to the support at $0.25, losing it and moving to its current level.
This morning, the XRP token traded as low as the $0.2379 level before correcting higher until it got to the $0.2420 level.
The technical indicators for the XRP token are gaining pace in the on the bearish level after following days of relative stability. The MACD is moving to the bearish zone. The relative strength index is below level 50 and the token has gained support at the $0.2400, $0.2380, and $0.2350 levels. Upside, the XRP token faces resistance at $0.2420, $0.2450, and $0.2500. The Ripple XRP token was rejected near the 50% Fibonacci retracement level of the last decline from $0.2503 to $0.2379.
Right now, the rise or fall of the XRP token will depend on the price action of the rest of the cryptocurrency market. Bitcoin BTC is currently trading at $11,513.21. It is up by 0.81% against the USD with a trading volume of $20,339,511,384 and a market capitalization of $213,240,448,766.
Bitcoin’s failure to move and stay above the $12k level has affected XRP and the rest of the market. In the next few days of trading, we will know whether or not the XRP token will lose its current support against the USD.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple XRP’s Fall Below the $0.25 Support Has Opened the Floodgates for Lower Lows Near-term
- XRP is at Risk of Falling to the $0.2375 Level
XRP Price Prediction 2020 – The XRP token lost the support at the $0.25 level and has been relatively bearish since then. Now, there is a risk of breaking the next support at $0.24. According to the XRP price analysis on Newsbtc, the token is at risk of falling lower against the USD.
If the bulls don’t gather the momentum they need to move higher near-term, the token will most likely fall to the next support which is at $0.2375. The immediate support before the $0.2400 level is at the $0.2450 level.
At the time of writing, the price of the XRP token was $0.248112. It is down by 2.43% against the USD but up by 1.83% against Bitcoin BTC. The trading volume over a 24 hour period was $1,468,382,934 and the market capitalization was $11,226,568,953. The token is at a strong risk of falling below the 100 hourly moving average with the jet contracting triangle that has developed support at $0.2415. A fall below the $0.2350 level will be helped by support at the $0.2320 level.