Ripple price analysis: XRP/USD recovery hits a snag at $0.2550, where to next?
Ripple is slightly in the green towards the end of the Asian session on Thursday. The bullish action started around $0.2502 but fizzled out at $0.2533. The third-largest crypto has explored intraday lows around $0.2486. However, XRP is still holding on to the subtle 0.63% gains on the day.
XRP/USD is doddering at $0.2525 above the immediate 50 Simple Moving Average (SMA) support on the 1-hour chart currently at $0.25144. The recovery stalled shy off $0.2550 leaving the resistance at the 100 SMA at $0.2564 untested.
Meanwhile, a short term ascending trendline is offering support. The support has been vital to the ongoing shallow since. If tested, XRP is expected to make a bounce upwards. The Relative Strength Index (RSI) failed to sustain movement towards 70 and is treading towards the average. Read more…
Top 3 price prediction BTC, ETH, XRP: Bears put a heavy paw on the market
XRP/USD is currently trading at $0.2452. The third-largest coin has lost over 2% of its value in the recent 24 hours amid the resumed sell-off on the cryptocurrency market. XRP/USD hit the intraday low at $0.2429 before new buyers popped in and saved the day.
The coin has been declining steadily since it hit $0.3100 on November 7. The downside momentum has been strengthening amid growing bearish sentiments on the broader market. Looking technically, the next strong support is located at $0.2400 (October 18 low). Once it is out of the way, the sell-off may continue towards September low at $0.2168. Read more...
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