Ripple Technical Analysis: XRP/USD recent bull run in danger after plummeting to $0.19
- XRP/USD had a strong breakout with a lot of continuation on July 6.
- The recent consolidation has been deeper than expected although the daily uptrend is intact.
XRP saw a significant crash towards $0.19 while in consolidation mode. Nothing is lost yet as bulls only need to hold $0.172 to defend the daily uptrend. The recent broken trendline will serve as a support line.
XRP/USD daily chart
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The RSI has cooled off while the MACD continues climbing. The daily 12-EMA at $0.1893 can be used as the next support level followed by $0.188, the 26-EMA. Despite the recent fall, XRP is still hot but in slight danger, if the bullish momentum doesn’t resume fast enough.
XRP/USD 4-hour chart
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The 4-hour chart has experienced a clear reversal and it’s now in a downtrend. Bulls are currently defending the 26-EMA at $0.195 while the MACD has crossed bearishly. The most crucial support level was established at $0.1832, if the buyers cannot hold this level, the momentum for XRP will be certainly lost.
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.
