Ripple News

XRP Tests Resistance Above $0.2040 After a Sharp Pullback

Ripple (XRP) News

Ripple, in the last few days, has been through very sharp ups and downs due to market uncertainty. However, after the recent bearish blow, the XRP coin has shown very impressive strength. Unlike each pullback, the currency has kept its crucial support levels pretty much intact.

It was yesterday when Bitcoin price fell from the heights above $10k. Tracing a similar pattern, XRP price declined sharply from $0.21. The altcoin is hassling to keep the bulls active as the recovery still lacks a strong momentum.

Ripple (XRP) Price News

Today, after the devastating pullback, the XRP price managed to stay above $0.20. Till now, the price has not slipped below $0.20 for once, noting a positive sign. After initial plunges, the coin noted its lowest price level of today at $0.2012, where it saw a support level to bounce back.

Despite a rebound, the coin’s price has remained below $0.21; rejection for XRP stands at $0.2044. The coin, however, has soared by 1.58% today and has corrected slightly from there.

Currently, the XRP/USD is looking for a bit of stability near $0.2039 with a moderately bullish approach. The recent resistance level seems at $0.2040 here. The currency holds technical indicators that are operating on a mixed note. The coin is above the 200-day EMA line while the MACD indicator goes bearish.

About the author

Doris Yaeger

Doris Yaeger

Doris Yaeger is a statistical expert and loves dealing with charts and numbers. He also expertise in finance and stock exchange systems. He has lots of knowledge of crypto coins and ripple system. He works as an advisor at ripplenews.io.

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