Ripple Price Analysis: XRP/USD is still suffering from the last double top and might not recover above $0.30

The $0.30 resistance level was proven to be a tough bone to chew for XRP bulls
The 12-EMA and the 26-EMA are both crucial support levels

Lorenzo Stroe Independent Analyst

XRP has been generally weaker than the rest of top coins and has been unable to hit a new 2020-high. The last double top formed on August 17 got a lot of continuation and bears managed to crack $0.30.

XRP/USD daily chart

Bears have confirmed a downtrend after breaking both EMAs, however, bulls are currently trying to climb back above both of them. The next most important resistance level is $0.292 followed by the crucial $0.30 resistance level.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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