Ripple Technical Analysis: XRP/USD on the verge of plummeting to $0.10
- XRP/USD has been generally weaker than the rest of cryptocurrencies.
- There aren’t many support levels nearby for XRP.
It’s quite obvious for anyone watching XRP charts that the digital asset is really weak and continues dropping every day. On June 27, XRP lost an old support level at $0.174 plummeting to $0.169.
XRP/USD daily chart
Unfortunately, there aren’t that many support levels on the way down for XRP. On March 29, buyers established a support point at $0.162. After that, the next important support level is set at $0.144 followed by basically $0.112, the low of March 13. These are not huge support levels as XRP was only bouncing back up following Bitcoin’s moves.
XRP/USD 4-hour chart
Buyers tried to establish a 4-hour uptrend like most of the other coins but failed to do so. However, bears did see a fakeout to $0.1749 before recovering to $0.176. The 12-EMA at $0.1769 has acted as a strong resistance level for the past six days.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
