Ripple Price Analisis: Volatility has come with lead in its feet, the market is sinking
- Volatility is back with a vengeance and we are seeing generalized wild falls, turning the Crypto market red.
- The XRP/USD is on the back foot, but the important thing is to finish the day standing up.
These are disaster smelling moments on the Crypto board. The signal was given by Bitcoin when it lost ground and started to fall. After it, Ethereum was hit hard, in a crazy race for prices not seen in the whole year.
However, the XRP/USD continues roaming in another galaxy. We do not know if it will succumb to the massacre that runs right now through the Crypto board, but for now, it stands at $0.44 after leaving the session low at the price level of $0.411, the base of the long-term base channel. At that price level, we see the 200 periods Simple Moving Average.
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As we can see in the graph, touching the line has been of high precision. After that move, Ripple recovered almost 10% and for now, has not resumed the downward path marked by Bitcoin and Ethereum.
The key level to watch is at the low point of the day. If the XRP/USD loses that level of $0.44, the fall could be historic and affect the very foundations of the industry. Above, it will be excellent if it managed to close above $0.48. Any intermediate price would leave the topic open for tomorrow.
Author
Tomas Salles
FXStreet
Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.
