Ripple News

XRP Lacks Intraday Traction and Support from Daily MAs

0

XRP, at the time of writing, was trading around the same price level from where it started trading at the onset of the year, i.e., 0.1987. Over the past 30 days, Ripple is facing strong resistance around 0.2357 on the daily chart. The coin is lacking traction to rise above and has been trading sideways below the given resistance after the market crash that happened in March.

XRP/USD Forecast

The XRP/USD has hit the YTD lowest at 0.11 until the time of writing and is currently trading with a rebound of around 80% in 2 months from the lowest recorded.

However, the price trend of XRP against USD currently appears flat and has been lacking steady momentum resulting into a lack of support from 50-day and 200-day MA on the daily chart. The recovery has taken a notable stall as the price fails to rise above after a subtle uptrend seen until the mid-April 2020.

Ripple (XRP) Price News

Moreover, on the daily chart, the coin has hit the YTD highest at 0.350 against the greenback just before the market crash in Feb 2020. Aligned to the current lack of momentum, the market is shifted sideways as Bitcoin’s recovery is also impeded, and the price is seen oscillating in a narrow range wherein it retested support below $8700.

The technicals are giving the notion about the flattish trend, and lack of momentum as the MACD and signal line have turned flat on the daily chart, and the RSI of the XRP coin is at 48.48, withholds no extremities at present.

Conrad Munoz
Conrad Munoz got into cryptocurrency while completing his Masters degree and hasn't looked back since, writing about crypto-related articles and news. He has driven himself into Ripple News from last 2 years and has knowledge in about predictions and price analysis.

    Ripple (XRP) Witnessed a Volatile Month; Gains a Mere 5.15%

    Previous article

    XRP Just like Many Other Altcoins Lack Daily Momentum

    Next article

    You may also like

    Comments

    Leave a reply

    Your email address will not be published. Required fields are marked *

    More in Ripple News