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XRP/USD weaker than the rest as its price continues to trade below $0.30

21 August 2020
in XRP
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  • XRP price is currently at $0.292, just below the crucial $0.30 support/resistance level.
  • XRP/USD has been under consolidation for a while but was able to defend the last low at $0.294.

Ripple price has been relatively flat compared to the rest of the coins in the past two weeks. The digital asset has created a double top which is considered a bearish reversal pattern but sellers don’t seem to have enough strength to continue pushing XRP price down.

XRP/USD daily chart

Unfortunately, XRP bulls couldn’t manage to defend the daily 12-EMA, currently at $0.295, and have closed below it. This was the first close below the 12-EMA since July 21. Both EMAs are now headed into a bearish cross but XRP still holds the 26-EMA and the low at $0.259.



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