- Ripple XRP Still Hasn’t Gained Momentum Above the $0.050 Level Despite all the Bullish Rally in the Market
- A Break Above the $0.2073 Level if it is to Gain More Against the USD
Ripple News Today – Ripple is always the worst-selling cryptocurrency out of the top tokens on CoinMarketCap. Last week wasn’t an exception. As Cardano drove a surge of the entire cryptocurrency community, XRP was unable to move above the $0.2000 support level. Over the last three days, the volatility of the XRP token has dropped significantly. The 50-day MA provided support for the token preventing lower lows against the USD. This isn’t the best time to make any drastic moves. It’s better to wait until the XRP token establishes a breakout from the 200 or at least 100-day moving average.
Ripple News Today – XRP Needs to Move Above the $0.2073 Level Before the Bulls Can Take Control
This morning, technical charts showed that Ripple moved higher by 0.41% against the USD. It got to the $0.2050 level which also happens to be a neutral zone. It has since hovered above this 50-day moving average. On the upside, there is key resistance at the $0.2058 level. If the XRP token can move above the $0.2058 level, it will gain enough momentum to get to the $0.2073 level. This would be a key breakout point for the XRP token. The next resistance after this will be at the $0.2139 level. This level also happens to be the 200-day moving average.
At the time of writing, the price of the token is $0.203265. It is down by 1.01% against the USD and up by 0.96% against Bitcoin BTC. The trading volume over a 24 hour period is $1,145,669,441 and the market capitalization is $8,966,588,275. On the downside, there is strong support at $0.2024. This was the lowest point this morning. When the token got to this level, the price started to recover and the token moved higher instead of moving lower against the USD.
XRP (XRP) Price Today – XRP / USD
If XRP falls below this support level, the token will lose the support at $0.2000 and fall lower to the next support at $0.1999. After this, the price of the token will find another support at $0.1950. Falling below $0.1950 will be disastrous for Ripple XRP. The next few days of trading will determine which direction the XRP token will take in the next few weeks. Hopefully, XRP will follow Bitcoin’s lead if BTC starts heading back to the $10,000.