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Ripple (XRP), at the time of penning down this analysis, was consolidating around $0.2030 and appearing flat after the crash that happened earlier this week. Moreover, at the press time, the currency had lost support from 50-day and 200-day moving averages after the price dipped from the daily high of $0.205 against the US Dollar. Towards midday, the XRP/USD lost its gaining streak but is still trading above $0.20.
On the intraday chart, we see that the XRP coin has made an amazing recovery after the steep fall that happened earlier this week. While rebounding, the currency held a subtle uptrend and then turned flat because of a lack of trading momentum. The coin also experienced intermittent price dips but managed to stay above $0.20, holding a strong support.
The technical indicators laid are holding a bearish divergence due to intraday pullback and downward correction. Otherwise, XRP has shown an astounding recovery. The major support to watch out for lies at $0.20, followed by $0.197 and $0.195, while the major resistance lies at $0.208 and $0.21.
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