Ripple’s XRP token is currently trading within a tight range with it using the daily 200 exponential moving average as support while the 50EMA is forming a point of resistance.
At the time of writing the world’s fourth largest cryptocurrency by market cap is trading at $0.25092 after suffering a 3.91% sell-off from the $0.2598 level of resistance.
This means that in spite of the recent downtrend from its local high of $0.329, XRP remains in a neutral position on lower time frames as it decides its next course of action.
Breaking above the daily 50EMA and the $0.2598 level would set up a positive move to the upside, with the next level after that coming in at $0.2835.
XRPUSD on TradingView
However, if XRP closes a daily or weekly candle below $0.2279, it would confirm a break down in price, which would see it enter a new bearish phase from a macro perspective.
If the bearish scenario comes into fruition, XRP would most likely slide to below $0.20 following a lack of confidence and lack of momentum from buyers.
It’s worth noting that XRP currently does follow the wider cryptocurrency market in terms of price action, which means that if Bitcoin suddenly makes a move back towards $12,000, XRP will likely begin to consolidate higher.
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Latest Ripple price
Current live XRP price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
More Ripple news and information
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