[ad_1]
Ripple (XRP) has earned a well-deserved reputation for being resilient. We've seen the XRP / USD rally in the face of a market meltdown. However, when Ripple (XRP) still managed to remain above its trend line while most other coins would have been pierced right through their trend lines to full and full correction. The daily chart for XRP / USD shows that Ripple (XRP) has now been strong at $ 0.457 level. This price has been recently completed. The daily RSI has also been cooled down without doing much damage to the price of Ripple (XRP). In fact, as the market recovers Ripple (XRP) might once again be two for another rally.
The EMA alignment for Ripple (XRP) has now turned to bearish and one would expect it to fall further. However, Ripple (XRP) seems to be holding strongly above the trend line. That being said, the 5 Day EMA has been turned into a strong resistance that Ripple (XRP) may not be able to break anytime soon. The daily volume is starting to sell but most of it has been on the sell side so far. Ripple (XRP) investors would like to return to the market. There are a lot of hodlers in the XRP community that do not trust exchanges and have their stocks stocked in cold storage wallets.
Ripple (XRP) has managed to stay atop the case of Bitcoin (BTC). The daily chart for XRP / BTC shows that Ripple (XRP) has yet to break its downtrend against Bitcoin (BTC). It managed to briefly escape the downtrend. The RSI for XRP / BTC shows that Ripple (XRP) is unlikely to break this down against Bitcoin (BTC) anytime soon. The price of XRP / BTC may be complete with a wave down before attempting to retest the resistance once again. It is relevant to note here that Ripple (XRP) has already attempted to break this down before in September this year. We saw a big spike in XRP / BTC that got stopped at the descending channel.
Ripple (XRP) may be a short-term pullback against Bitcoin (BTC) but it is important to mention that Ripple (XRP) is a winner from an investment standpoint. Investors that have been bought in the green. Ripple (XRP) has been recovered while most of the other cryptocurrencies have just made new lows for the year.
