Ripple market overview: XRP/USD lower low pattern testing $0.3100 support

  • XRP/USD extended the losses under $0.31 during Asian trading hours on Tuesday.
  • Ripple needs to stay above 0.3100 and possibly recover above $0.3200 to come out of the danger zone.

Ripple is in the middle of a gains trimming activity following the rejection from highs around $0.3415. Recovery from lows slightly above $0.28 has proved to be an uphill task especially with the return of the bears this week.

Expected support at $0.3200 failed to cushion the drop as the bears had gotten a kick from the slide below the moving average. XRP extended the losses under $0.31 during Asian trading hours on Tuesday. A low formed at $0.3089 gave way for an ongoing reversal towards $0.3150.

At press time, the price is dancing at $0.3120 with the weak bullish momentum supported by the slightly positive technical levels. The Moving Average Convergence Divergence (MACD) at -0.001 beginning to slope gradually upwards. However, the sellers will remain in control until we see a larger divergence to the upside.

The Relative Strength Index (RSI) has recovered from the oversold levels but the upside movement is capped at 40. Ranging movement means that XRP is likely to start trending sideways in the coming sessions. Ripple needs to stay above 0.3100 and possibly recover above $0.3200 to come out of the danger zone between $0.30 and $0.31.

XRP/USD 15-mins chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD rising wedge pattern reaction risks breakdown to $9,400

Bitcoin’s spectacular movement to levels slightly below $11,000 has astonishingly hit the pause button. As discussed yesterday, the weekend session was enviable with Bitcoin breaking above the 50 Simple Moving Average (SMA) and the 100 SMA one-hour.

More Bitcoin News

Ripple price analysis: XRP/USD smashes through $0.2750 support

Ripple bears have returned in the market, this time with a precise intention; to revenge. This comes after a failed attempt to sustain gains above $0.2900. Following remarkable movement from the acute declines experienced last week, a high was formed at $0.2928.

More Ripple News

Ethereum market update: ETH/USD retreating as $205 remains unconquered

Ethereum formidable move from last week’s lows smashed through $200 hurdle. However, the failure to break above $205 allowed the sellers an easy-takeover. For this reason, Ethereum is retreating below $200 (failed support).

More Ethereum News

Bitcoin Cash technical analysis: BCH/USD has a bullish breakout from triangular formation

Follow two straight bullish days the BCH/USD price chart has had a bullish breakout from the triangle formation. Over this Tue, the price has gone up from $317 to $325.

More Bitcoin Cash News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast