Ripple (XRP) Price, chart and analysis
- The lower highs dominate the chart and the downward trend remains intact.
- Cryptocurrency market capitalization of almost $ 700 billion from its maximum.
Ripple (XRP) Downward trend remaining in play
L & # 39; last The Ripple daily chart shows a further weakness in the second largest encryption after the last level of support has left the pace. Ripple held up slightly better than its peers in the recent market sell-off, but is now sliding lower and towards support at $ 0.375. A series of six lower high candles below confirms the downward prospects, while the XRP is now trading below all three moving averages, highlighting the weak sentiment of the market. A break below the next support level ($ 0.375) paves the way to a low of August 14th at $ 0.247.
Ripple (XRP) Daily Price Chart (May – 23 November 2018)
The capitalization of the cryptocurrency market falls further
The cryptocurrency market currently holds just over $ 141 billion, almost $ 700 billionon less than its peak rating of $ 830 billion + at the beginning of January of this year. The overall market capitalization returned to a level seen last time at the beginning of October 2017, a few weeks before the market increased in value.
Investors they remain net-long ripple (96.1%) – and have remained strongly net-long for months – but recent positional changes give us a mixed trade biases. You can register at IG Sentiment Indicator of the client free to get updated positioning data.
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If you are interested in trading with Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you start your journey. We have a Introduction to the Bitcoin Trading Guide with a Free demo account so you can practice trading on this volatile asset class.
What's your opinion on Ripple: bullish or bearish? Share your thoughts and ideas with us using the comments section at the end of the article or contact me on Twitter @ nickcawley1 or via e-mail at address [email protected].
— Written by Nick CawleyAnalyst.
