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Ripple Technical Analysis: XRP/USD weaker than the rest as its price continues to trade below $0.30

  • XRP price is currently at $0.292, just below the crucial $0.30 support/resistance level.
  • XRP/USD has been under consolidation for a while but was able to defend the last low at $0.294.
Ripple Technical Analysis: XRP/USD weaker than the rest as its price continues to trade below $0.30
Lorenzo StroeLorenzo StroeIndependent Analyst

Ripple price has been relatively flat compared to the rest of the coins in the past two weeks. The digital asset has created a double top which is considered a bearish reversal pattern but sellers don’t seem to have enough strength to continue pushing XRP price down.

XRP/USD daily chart

ETHUSD

Unfortunately, XRP bulls couldn’t manage to defend the daily 12-EMA, currently at $0.295, and have closed below it. This was the first close below the 12-EMA since July 21. Both EMAs are now headed into a bearish cross but XRP still holds the 26-EMA and the low at $0.259.

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
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