Ripple News

XRP Reclaims its Position Above $0.20 Yet Lacks Steady Momentum

Ripple (XRP) News

XRP, at the press time, was trading at $0.2061 and important to note that on the daily chart, the price of the coin appeared accumulating since the 2nd week of the previous month. The current change in price has led the coin to surpass 38.20% Fib Retracement Level yet accumulates near to $0.20 to $0.26 price area.

Moreover, after a gradual downturn earlier this year in March, XRP has not yet experienced an ample recovery to stay afloat above 50.0%, followed by 61.80% Fib Retracement level. Although, if looked into totality, XRP/USD is drawing a notable uptrend, which was followed by a flattened move in the previous month. The current trading price is retaining slight support from 50-day MA at $0.202 while lacks support from 200-day MA. A further dip will lead go losing 50-day MA support, which looks likely now as there are moderate volatility and less momentum.

Ripple (XRP) Price News

Towards the beginning of the previous month, XRP had retained the price area where it started trading at the beginning of the year when the Pandemic was yet to be announced. However, after the market crash that happened 2 days back, XRP has reclaimed its position above $0.20 after retesting the weekly low around $0.198.

XRP, over the past month, has been volatile yet flat, which means that a sudden breakout will not be surprising, as per the current market scenario and momentum. The major support to watch out for lies at $0.198 and $0.195, while the resistance lies at $0.21.

About the author

Myrtle Murchison

Myrtle Murchison

Myrtle Murchison is a price analyst and a crypto news expert. She deals with various topics related to price analysis. She leads a team of crypto news writers. She has 5 years of experience with ripplenews.io.

Add Comment

Click here to post a comment