- Ripple price is currently at $0.198 as bulls are fighting to stay above the crucial $0.20 level.
- XRP/USD is holding the daily uptrend but slowing down significantly.
The XRP price target at $0.21 is slowly fading away after an extended consolidation period. XRP is still fighting to stay above $0.20 while daily EMAs are catching up to the current price. For now, bulls have defended the daily 12-EMA and are not worried about losing the daily uptrend, however, a close below $0.20 again will indicate a significant shift in momentum in the short-term.
XRP/USD daily chart
The daily chart has produced several long-wick candlesticks already indicating that investors are not sure where XRP is going next. After an initial strong rally towards $0.21, XRP slowed notably. It’s also important to realize that the huge breakout was possible thanks to how weak XRP has been for the past few months.
XRP’s total market dominance has increased from 3% to 3.26% but it’s still far lower than what it was back in October 2019 at 5.7%.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.