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XRP Turns Flat After Exhibiting a Fine Uptrend from the Recent Crash

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Ripple (XRP) News

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.

Ripple (XRP) Price News

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.

Patricia Ross
Patricia Ross is a crypto expert and full-time writer at RippleNews.Xyz. She has years of experience in crypto markets, and hence she covers the latest market insights and price analysis pieces for Ripple.

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