The rupture of the Ripple bear XRP flag looms as the cryptography market cancels $ 3 billion

  • The drop of the wavy waterfall rebounds above $ 0.50; the downward trend is all but over.
  • Lateral XRP / USD trading could culminate in a slide below $ 0.5.

Volatility was ousted from the cryptocurrency market in October. However, virtual currencies have returned to their usual fluctuations driven by the third digital asset by market capitalization Ripple (XRP). The ripple resumed the upward trend after the decline which found support at $ 0.49 in the last weekend. The upside started on Monday with the value of Ripple jumping above $ 0.50 but not reaching the $ 0.53 barrier.

Ass mentioned below, the volatility back and in particular for XRP. The price reacted with a bear move for not exceeding $ 0.53. The bulls fought to keep the price above $ 0.51, but the strength of the bear pressure yesterday, Tuesday 13, sent XRP / USD ahead first under $ 0.50. However, the buyers' intention to turn back pushed for the recoil by forming a bear flag pattern. Immediate resistance at $ 0.515 is a significant obstacle and a break point for Ripple's price to attack levels above $ 0.53 to $ 0.6.

It is likely that the bear trend will continue as the price reacts to the bearish model. However, indicators such as MACD and RSI show that Ripple will remain stable at current value in a lateral trend. The 50 SMA is currently undergoing under the long-term 100 SMA, which means that the pressure of the bear will remain in the coming days.

XRP / USD time chart

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