XRP Surges Above $0.46 But The 61.8% Fibo Level Acts As Resistance, Will XRP Recover?

Ripple News Today – XRP price has been on a path to full recovery for some days now. Unfortunately, the cryptocurrency is facing strong resistance at the 61.8% Fib retracement level of the last significant price action. Following the $50 million MoneyGram deal by Ripple, the XRP token moved as high as $0.46 where it met resistance. Everyone expected that the price of the token will surge above the $0.50 level but this didn’t happen. It started correcting lower and the recovery was stalled. Will XRP touch the $0.15 level anytime soon or will it keep falling below key supports?

XRP Price Prediction 2019 – XRP Prediction 2019 – Ripple News Today – XRP News Today – XRP Loses Momentum After Brief Rally

XRP has been one of the best performing cryptocurrencies for some days now. Even when the flagship cryptocurrency, Bitcoin, was correcting lower against the USD, XRP managed to maintain the bullish momentum. Surging from the recent support level at the 38.2% Fib retracement level of the last fall from $0.4625 to $0.3912. This was just after the price fell from the $0.4625 high, a bull run that was fueled by the MoneyGram announcement.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.296280
-5.55%

Just before the price correction, the price of XRP moved above the 50 and 100 simple moving averages. This was followed by a surge above the 23.6% Fib retracement level. Thanks to this move, buyers increased their momentum thus encouraging a price surge above the resistance levels at $0.4200, $0.4300, and $0.44. After crossing the resistance at $0.46, the dust settled and the price started correcting lower against the USD. In fact, short-term investors started pulling out the profits. This contributed to the downtrend.

Ripple News Today – XRP News Today – XRP Price Prediction 2019 – XRP 2019 – Current Price Of XRP

At the time of writing, the price of XRP was $0.431145. This means that it is down by 1.40% against the USD and down by 1.12% against the price of BTC. The trading volume over a 24 hour period is $18,324,486,541 and the market capitalization is $1,293,959,448. The technical indicators show that it is stuck in a range between the 38.2% support line and the 61.8% resistance line. The relative strength index has changed direction and is now heading south. This shows that the bearish pressure in the market is increasing. Another indicator that shows that the bears are gaining control is that the MACD is under the mean line. The bulls still have a say but the bears are gaining momentum.

It is imperative that the price of XRP stays above the support at $0.4300 to prevent more loses and avoid testing the support at $0.38 again. If the bulls are able to gain momentum, the price will retest the $0.46 level near-term and this will pave the way for more gains.

What do you think about the XRP price prediction 2019 and current price of XRP in our XRP news today? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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