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.
Cryptocurrency trader Resources: accounts, guides, sentiment indicators and webinars for free practice negotiation
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 firstname.lastname@example.org.
— Written by Nick CawleyAnalyst.