Ripple XRP to Break Above the Resistance at $1.30 Soon?

0 4
Ripple coin made a reversal in July, after being quite bearish since April, when it printed a high at just below $2. It was looking more bearish than many other cryptos, which continued to be bullish until May, and eventually it lost nearly 75% of its value, when the price fell to $0.50.The bullish reversal wasn’t too promising either, with the 200 SMA (purple) acting as resistance for nearly two weeks. That lasted until the second week of August, when it surged higher, breaking above the 200 SMA and pushing the price above $1.30.But, XRP/USD retreated lower again, and we haven’t seen a close above that round level. In fact, $1.30 has turned into a solid resistance level for Ripple coin, while the area around $1.05 has turned into a solid support zone. The price has been bouncing inside this range for more than two weeks now, while Bitcoin and most of the crypto market are in a consolidation period as well.XRP/USDThat is not a bad thing though, since buyers need some time
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade
$59.95/month