Lorenzo Stroe
Independent Analyst
- XRP/USD is currently trading at $0.291 after a flash crash following Bitcoin’s crash.
- XRP bulls are fighting to stay above the crucial $0.30 support level.
Since the initial pullback on August 7, XRP has struggled heavily to go back above $0.30. Just hours ago, XRP bulls finally managed to push the digital asset above $0.30 just before another crash towards $0.285.
XRP is slowly succumbing to selling pressure and could see a bigger pullback
XRP was doing quite well in the past two weeks but has remained the lagger when it comes to the top 10 cryptos. The market dominance of XRP was finally going up again towards 4% but has now fallen to 3.6%. The daily chart for XRP could still be a bull flag with buyers defending the 12-EMA, however, if this level breaks, we could see XRP dropping towards $0.26.
At the same time, the RSI has cooled off but remains overextended while the MACD is on the verge of a bear cross on the daily chart.
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