Ripple Technical Analysis: XRP/USD remains weak and it’s at danger of crashing after millions XRP coins from PlusToken scam were moved to exchanges
- XRP is still one of the weakest coins despite an overall recovery of the crypto market.
- Millions of XRP coins were moved to exchanges from the PlusToken scam, the famous $2 billion crypto theft.
XRP is again under selling pressure after failing to see a significant bounce and millions of coins were moved to exchanges from the PlusToken scam. The pressure combined could lead XRP into another crash, this time below $0.18.
XRP/USD daily chart
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It’s clear that XRP’s daily chart is far weaker than the rest of the coins with only a 1.5% price surge on June 22. One of the main differences between XRP and others is the fact that XRP is trading below the daily 12-EMA at $ 0.191 and it’s not close to climbing above it. There are plenty of resistance levels to the upside including the 12-EMA and the 26-EMA.
Support can be found at $0.1847, the low of June 20, and $0.182 the low of June 15. Below those two levels, bulls will only find a psychological support level at $0.18 and some support at $0.178.
XRP/USD technical levels
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.
