Ripple’s XRP Meets Resistance & Retraces

2018-11-29 17:59

Yesterday was an extremely bullish day for the cryptocurrency market. Most cryptocurrencies are continuing to increase today, but some are struggling to keep up. The largest altcoin by market cap, Ripple’s XRP, is one of the cryptocurrencies which is recording a loss today.

XRP met resistance yesterday at $0.4 and has since retraced. The altcoin had an extremely bearish week last week dropping from $0.51 to approximately $0.37, a 27% decline. Price even fell close to $0.3 with some support coming into play at this point.

XRP Weekly Chart – Source: TradingView.com

Price has struggled to recover along with the market this week and met resistance at $0.4 yesterday during its increase. Price has since retraced to around $0.377.

The key levels for XRP at this point are $0.4 and $0.3. A return to bearish market conditions makes a move to $0.3 a strong possibility. A continuation of the recent bullish market conditions is likely required if we are to see XRP rise back above $0.4.

Today’s drop is on low volume showing traders are taking into consideration the bullish movements being recorded in most cryptocurrencies. Traders are seeming increasingly cautious of a return to bearish market conditions with the price increases across the market significantly slowing today.

XRP Daily Chart – Source: TradingView.com

Overall, the price action of cryptocurrencies has mostly been acting in a bearish way responding extremely negatively during downturns and struggling to rise during increases. Yesterday’s price action seems to be a short-lived exception with a significant slowdown today.

Key Takeaways:

XRP meets resistance at $0.4 yesterday and retraces. XRP one of the few cryptocurrencies recording a loss today Key levels to monitor for XRP are $0.3 and $0.4. Overall, the price action of cryptocurrencies has been mainly bearish and yesterday may have been an exception.

Ripple’s XRP Meets Resistance & Retraces was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

xrp ripple resistance cryptocurrencies cryptocurrency market altcoin

Источник: blokt.com

xrp ripple → Результатов: 126


Can Ripple’s XRP Reach $1,000?

X user @B_arri_C made a bold prediction that XRP, the digital asset from fintech company Ripple, could potentially reach $1,000 per token in the future. What’s the rationale behind such lofty expectations? The Case for Triple-Digit XRP @B_arri_C laid out an argument that with Ripple’s massive global expansion plans for financial transactions, widespread adoption could […] The post Can Ripple’s XRP Reach $1,000? appeared first on CaptainAltcoin.

2024-1-26 21:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

SOL Price Breaks $150 – Why Solana Could Soon Test $180

Solana is gaining bullish momentum above $150. SOL price is showing positive signs, and it could even surpass the $162 resistance in the near term. SOL price started a fresh increase from the $138 support against the US Dollar.