Ripple News Today – In our XRP news yesterday, we noted that the price of XRP was struggling to hold its recent gains against the USD and BTC. When the price of XRP was surging higher against the USD, we said that it was going to most likely cross the $0.50 level near-term. Unfortunately, instead of crossing this level, XRP faced key resistance at $0.46 level failing to move higher against the USD. Right now, there are several hurdles preventing an upward surge against the USD. This morning, the price or XRP fell so low that it tested the support at $0.4175 risking lower lows near-term. Why is XRP falling? Is XRP dead? Is the XRP prediction 2019 still bullish?
XRP News Today – XRP Latest Update – Ripple News Today – XRP Faces Hurdles
The price of XRP is consolidating against the price of Bitcoin, even if it is recording gains against the USD. Right now, it must clear the resistance levels at $0.4400 and $0.4450 if it is to move higher near-term. Unfortunately, the chances of this happening are slim. A few days ago, Ripple bought a 10% stake of MoneyGram. They paid $30 million first and MoneyGram has the chance to request for another $20 million in the next two years. This led to a surge in the price of the token.
XRP (XRP) Price Today – XRP / USD
XRP was able to break the resistance at $0.45 and $0.46. The next target was $0.50 but before the cryptocurrency could cross that level the price fell significantly losing most of the gains acquired recently. This was after it touched the $0.4630 level. It fell sharply below the $0.4500 support reaching the $0.4400 support level and still could not recover until it fell below $0.4175. A strong descending trendline formed around the $0.4169 level and the price started to move higher against the USD. It managed to touch the $0.4300 level which also happens to be at the 100 level simple moving average.
The price of XRP was able to break above the 23.6% Fib retracement level of the last wave from $0.4630 to $0.4170. There is still a strong resistance at $0.4400 and it is crucial that XRP moves above this resistance if it is to retest the $0.46 level. The 50% Fib retracement level of the last drop from $0.4630 to $0.4170 is around the $0.4400 level. The MACD is bullish just like the relative strength index
Ripple News Today – XRP News Today – XRP Latest Update
At the time of writing, the price of XRP was $0.425543. This means that it is down by 1.40% against the USD and down by 2.69% against BTC. The trading volume over a 24 hour period is $1,224,527,523 and the market capitalization is $18,086,406,689.
Right now, XRP is falling as a direct result of the negative sentiment in the market. Almost every cryptocurrency starting with BTC is currently falling against the USD. This downside correction isn’t limited to XRP alone so it will only last as long as the market trend lasts.
What do you think about the XRP price prediction 2019 in our XRP news today? Share your thoughts in the comment section below.