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The most recent drop in the market saw Bitcoin reverse its earnings for the week. Although the crossovers usually underperform during the falls, Ripple's XRP managed to stay in the green for this week. However, XRP has undergone a sharp reversal in the last two days from a weekly high of around $ 0.56 to a current price close to $ 0.50.
Support levels could come into play at the price that XRP is currently trading at $ 0.49 has been an important support point in the past. The 200 EMA daily and the 50 EMA weekly also exchange around this point.
Today's candle is so back in the green despite most coins showing losses. The volume is low and the movement is small and shows that the drop we saw recently may not be over yet. Regardless, XRP is going better than most of its peers.
The increase observed today in the XRP price met with a strong resistance to 50 hour EMA. Going forward, the price will have to break through support around $ 0.49 or resistance at 50 EMA.
Key Takeaways:
- The XRP has undergone a sharp reversal from the highs, but exceeds the other cryptocurrencies.
- Key support coming in to play for $ 0.49.
- Key resistance comes into play at 50 EMA.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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