XRP Is Trading Below $0.50 – May 21
As indicated that the Ripple XRP/USD market is trading below the $0.50 résistance line, it hasn’t been that the crypto economy will boom up the strength to shoot for higher profits in the near time. Price is trading around $0.40 at a 1.20% positive.
XRP Price Statistics:
XRP price now – $$0.4148
XRP market cap – $20 billion
XRP circulating supply – 48.3 billion
XRP total supply – 100 billion
Coinmarketcap ranking – #6
XRP Is Trading Below $0.50
Resistance levels: $0.50, $0.60, $0.70
Support levels: $0.35, $0.25, $0.15
XRP/USD – Daily Chart
The daily chart shows the XRP market economy is trading below the $0.50 resistance level as it keeps succumbing to a downward force around the sell signal side of the smaller SMA trend line. The 50-day SMA indicator is above the 14-day SMA indicator. The lower bearish trend line has once been fearful and dully breached southward to showcase the intensity of the downing trading cycle on the crypto’s price. The Stochastic Oscillators are tempting to penetrate the overbought region. And they still point toward the north side.
Will there be stable recovery moves in the Ripple XRP/USD market soon?
Going by what is portended by the Ripple XRP/USD market gravitational trading capacity; there is a negating assumption to getting stable recovery moves in the near time. The degree of price responsiveness to the downside from the current trading point may not be forthcoming aggressively to surpass the previous low. A rebounding motion may occur between $0.35 and $0.25 if those presumptions play out in the long run.
On the downside of the technical analysis, bears can still have the benefits beneath the trend line of the 14-day SMA. Variant smaller bearish candlesticks have featured around the lower bearish channel trend line. There are also a few light-weighted bullish candlesticks to signify the price may run in a consolidation manner afterward to prevail over going bearish further through the set of support levels.
XRP/BTC Price Analysis
In comparison, Ripple XRP found debasing by the countering trending capacity of Bitcoin over a long-term basis. In other words, the cryptocurrency pair market is trading below the trend lines of the SMAs. The 50-day SMA indicator is over the 14-day SMA I indicator. A bullish candlestick has emerged from the lower bearish trend line to eventually give birth to a set of lower lows at its higher-end beneath the smaller trading SMA. The Stochastic Oscillators have sprung from the range of 20, clogging lines between the 40 and 80 range lines to signify that a ranging move is ongoing.
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