The price of Ripple dropped a little in the short term and now is trading at 0.4503 at the time of writing. The altcoin crashed as the price of BTC/USD dropped. XRP/USD dropped by 6.82% from Friday’s high of 0.4754 to 0.4430 today’s low.
In the last 24 hours, XRP/USD is up by 0.18% but it’s down by 3.05% in the last 7 days. Bitcoin’s deeper drop should force the altcoin to drop deeper as well.
XRP/USD Under Massive Pressure!
Technically, XRP/USD found resistance at the downtrend line. The token has tested and retested it, registering only false breakouts. Now, the price is challenging the weekly pivot point of 0.45 and the ascending pitchfork’s lower median line (lml).
The 50% (0.4424) retracement level represents a downside obstacle as well. Still, staying near the downtrend line may announce an imminent breakout.
XRP/USD Forecast!
A valid breakdown below the lower median line (lml) and below the 50% Fibonacci level at 0.4424 will activate a larger drop and is seen as a selling signal.
The material has been provided by InstaForex Company – www.instaforex.com
The price of Ripple dropped a little in the short term and now is trading at 0.4503 at the time of writing. The altcoin crashed as the price of BTC/USD dropped. XRP/USD dropped by 6.82% from Friday’s high of 0.4754 to 0.4430 today’s low.
In the last 24 hours, XRP/USD is up by 0.18% but it’s down by 3.05% in the last 7 days. Bitcoin’s deeper drop should force the altcoin to drop deeper as well.
XRP/USD Under Massive Pressure!
Technically, XRP/USD found resistance at the downtrend line. The token has tested and retested it, registering only false breakouts. Now, the price is challenging the weekly pivot point of 0.45 and the ascending pitchfork’s lower median line (lml).
The 50% (0.4424) retracement level represents a downside obstacle as well. Still, staying near the downtrend line may announce an imminent breakout.
XRP/USD Forecast!
A valid breakdown below the lower median line (lml) and below the 50% Fibonacci level at 0.4424 will activate a larger drop and is seen as a selling signal.
The material has been provided by InstaForex Company – www.instaforex.com
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