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XRP Price Set for Big Drop !

From the past couple of days, bitcoin price struggled to gain momentum above $15,500 and $15,600 resistance levels. However, the BTC price remained well bid above the $15,000 and $15,200 support levels. The price seems to be stuck in a range and it is currently trading at $15,401.28.



Meanwhile, few altcoins are showing decent gains, including ethereum, LINK and the rest are bleeding red with minor loss. ETH/USD climbed above the USD 455 resistance and it might settle above the USD 460 resistance. On the other hand, the XRP price plunged to $0.255.

Ripple – XRP Price Analysis

XRP price chart

At the time of writing, XRP is trading at $0.255698 with a minor loss. Ripple is currently holding a market cap value of $11,586,326,071 with $3,168,385,567 trading volume.

As per the below chart, the XRP price is currently close to its 20, 50, and 100-day moving averages.

Meanwhile, the Relative Strength Index suggests that the price is still largely in the hands of the bulls until a breakdown is confirmed, perhaps by a daily close under the 50 SMA. 

On the other hand, recovery will come into the picture if Ripple reclaims the position above $0.26. Price action above $0.27 is likely to call for more buy orders as XRP bulls plan the angle of attack to overcome the resistance at $0.3.

Technical Indicators

  • The MACD indicator is slowly moving in the bullish zone.
  • The RSI indicator is currently just above the 50 levels.
  • Major Support Levels – $0.2515, $0.2500, and $0.2460.
  • Major Resistance Levels – $0.2600, $0.2640, and $0.2720.

2020-11-11 11:29:23

Delma Wilson Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

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