Ripple price analysis: XRP/USD is in free fall, no major support until $0.6800
- Ripple is among the worst performers of the crypto market.
- XRP/USD smashes another critical support, reaches the lowest levels since February 9.
Ripple price has been falling for the fifth day in a row with the downside exacerbated by the overall bearish trend on the cryptocurrency markets and the disappointment over Coinbase refusal to add the coin to the list of tradable instruments.
The speculations on the topic emerged as Ripple CEO Brad Garlinghouse, and the head of Coinbase, the largest US cryptocurrency exchange by trading volumes, Asiff Hirji were going to appear on CNBC’s Fast Money show. Later it became known that they were featured in separate segments and not together.
Ripple price technical picture
XRP/USD is down over 9% on the day, with sighs of recovery visible either on intraday or longer-term charts. Ripple price broke below pivotal $0.8000 support, which triggered further decline that took the coin towards $0.7400, the lowest level since February 9. The next crucial support lies at $0.6800, if it is broken, XRP/USD may retest $0.5894.
XRP/USD, the hourly chart
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Author
Tanya Abrosimova
Independent Analyst
