Ripple Technical Analysis: XRP/USD suffers a devastating blow as 88 million tokens remain stolen
|- The PlusToken scam still has an effect on XRP as 32 million tokens were just sent to HBTC.
- XRP has failed to hold $0.30 and it’s now trading at around $0.27.
The weakness of XRP is quite apparent as the digital asset gets closer to a crucial support level at $0.255. This low formed on August 27 is really the only support level on the way down beside the 100-EMA and the 200-EMA.
XRP/USD daily chart
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There has been a clear shift in momentum for XRP on the daily chart which is now in a downtrend or at least extremely flat. Bulls have lost both the 26-EMA and the 12-EMA and they have been rejected from $0.30 again.
We are seeing a significant increase in trading volume over the past 24 hours due to the overall market weakness and the MACD continuously in red.
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