Ripple Technical Analysis: XRP/USD remains weak and it’s at danger of crashing after millions XRP coins from PlusToken scam were moved to exchanges
|- XRP is still one of the weakest coins despite an overall recovery of the crypto market.
- Millions of XRP coins were moved to exchanges from the PlusToken scam, the famous $2 billion crypto theft.
XRP is again under selling pressure after failing to see a significant bounce and millions of coins were moved to exchanges from the PlusToken scam. The pressure combined could lead XRP into another crash, this time below $0.18.
XRP/USD daily chart
-637284505894017335.png){kind=link}
It’s clear that XRP’s daily chart is far weaker than the rest of the coins with only a 1.5% price surge on June 22. One of the main differences between XRP and others is the fact that XRP is trading below the daily 12-EMA at $ 0.191 and it’s not close to climbing above it. There are plenty of resistance levels to the upside including the 12-EMA and the 26-EMA.
Support can be found at $0.1847, the low of June 20, and $0.182 the low of June 15. Below those two levels, bulls will only find a psychological support level at $0.18 and some support at $0.178.
XRP/USD technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.