Ripple’s XRP Reverses After Meeting Key Resistance

2018-11-30 17:44

The vast majority of cryptocurrencies are recording losses today as Bitcoin returns back below $4000. The last few days of price action recorded unexpected bullish movements, but Ripple’s XRP began declining yesterday while most cryptocurrencies were still rising.

XRP met resistance at $0.4 during the bullish spike and had since begun to turn downward. The drop has accelerated today with price moving from the opening at around $0.38 to an intraday low at $0.35. If the bearish market conditions continue, we are likely to see XRP drop towards $0.3 after already approaching this level during the bearish movements of last week.

For the moment, $0.35 is likely to provide some support and has done during past trading activity. The one bullish factor to consider is that today’s drop is on less volume than previous drops and the price rise that preceded it. This indicates that there may not be much strength behind the downturn and that traders may drive the price back up from here.

XRP Daily Chart – Source: Tradingview.com

The hourly chart shows the drop in closer detail. Price dropped from $0.37 to $0.35 over the space of a few hours with the majority of the move taking place over one hour. Price quickly started to experience support as it reached $$0.35 and began to trade in a range around $0.355.

XRP Hourly Chart – Source: Tradingview.com Key Takeaways: XRP recorded a loss yesterday despite most cryptocurrencies rising in price. XRP met strong resistance at $0.4 during its price rise. Price met support at $0.35 during today’s drop, but a continuation in these market conditions may see price drop further toward $0.3. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Ripple’s XRP Reverses After Meeting Key Resistance was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Ripple (XRP) на Currencies.ru

$ 0.5128 (-0.09%)
Объем 24H $826.038m
Изменеия 24h: -0.91 %, 7d: 1.25 %
Cегодня L: $0.5077 - H: $0.5177
Капитализация $28.35b Rank 7
Цена в час новости $ 0.3591 (42.8%)

xrp ripple resistance bitcoin bullish cryptocurrencies reverses

Источник: blokt.com

xrp ripple → Результатов: 126


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