TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ripple Price Prediction: XRP/USD is having a tough time staying above $0.30 as selling pressure keeps mounting

  • XRP/USD is currently trading at $0.291 after a flash crash following Bitcoin’s crash.
  • XRP bulls are fighting to stay above the crucial $0.30 support level.
Ripple Price Prediction: XRP/USD is having a tough time staying above $0.30 as selling pressure keeps mounting
Lorenzo StroeLorenzo StroeIndependent Analyst

Since the initial pullback on August 7, XRP has struggled heavily to go back above $0.30. Just hours ago, XRP bulls finally managed to push the digital asset above $0.30 just before another crash towards $0.285.

XRP is slowly succumbing to selling pressure and could see a bigger pullback

XRP was doing quite well in the past two weeks but has remained the lagger when it comes to the top 10 cryptos. The market dominance of XRP was finally going up again towards 4% but has now fallen to 3.6%. The daily chart for XRP could still be a bull flag with buyers defending the 12-EMA, however, if this level breaks, we could see XRP dropping towards $0.26. 

At the same time, the RSI has cooled off but remains overextended while the MACD is on the verge of a bear cross on the daily chart.

Author

Lorenzo Stroe

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.

More from Lorenzo Stroe
Share:

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP recover ahead of US Senate vote on CLARITY Act

Crypto Today: Bitcoin, Ethereum, XRP recover ahead of US Senate vote on CLARITY Act

Bitcoin edges higher, trading near $77,884 as of Monday, in tandem with broader gains across the cryptocurrency market. Ethereum and Ripple follow Bitcoin’s neutral-to-bullish trajectory, holding key support levels at $2,521 and $1.38, respectively.

Bitcoin Price Forecast: BTC recovery faces headwinds from ETF outflows and elevated Fed rate-hike bets

Bitcoin Price Forecast: BTC recovery faces headwinds from ETF outflows and elevated Fed rate-hike bets

Bitcoin is recovering, trading above $78,200 on Monday after a more than 4% pullback the previous week. Elevated Fed rate-hike bets and geopolitical risks are boosting the USD, capping BTC’s upside potential.

Pi Network extends gains as ecosystem development supports recovery

Pi Network extends gains as ecosystem development supports recovery

Pi Network (PI) extends its recovery on Monday, trading above $0.097 after two consecutive weeks of gains. Continued ecosystem development and improved developer tools are boosting utility.

Cardano Price Forecast: Hovers near key EMAs as cautious metrics leave rallies exposed to selling

Cardano Price Forecast: Hovers near key EMAs as cautious metrics leave rallies exposed to selling

Cardano hovers near the key 50-day and 100-day EMAs around $0.200 on Monday after losses of over 8% in the previous week. The technical outlook suggests that bullish attempts remain vulnerable to selling pressure at higher levels.

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.