XRP has now lost about 50% since the start of 2019 and yesterday touched the area below $0.18 support (2 years low) amid growing bearish pressure. We can only say - welcome to pre-Christmas volatility.
The RSI made reversal from its oversold area on both daily and H4 charts. This suggests that Ripple price action could continue upside towards $0.20. Further upward movement could come face to face with the resistance at the 50 (0.2126) and 200 ($0.2274) SMAs on the 4-hour chart. If more buyers emerge, XRP/USD can break and to stays above $0.2340 (the monthly high) and than the bulls will have a higher chance of seeing gains towards $0.30.
Barring another crypto meltdown, however, XRP/USD could re-test and breakout of $0.1790 low. In that event the next bearish target will be the 0.1705 support, followed by 0.1620.
What do you think about the performance of XRP?
The RSI made reversal from its oversold area on both daily and H4 charts. This suggests that Ripple price action could continue upside towards $0.20. Further upward movement could come face to face with the resistance at the 50 (0.2126) and 200 ($0.2274) SMAs on the 4-hour chart. If more buyers emerge, XRP/USD can break and to stays above $0.2340 (the monthly high) and than the bulls will have a higher chance of seeing gains towards $0.30.
Barring another crypto meltdown, however, XRP/USD could re-test and breakout of $0.1790 low. In that event the next bearish target will be the 0.1705 support, followed by 0.1620.
What do you think about the performance of XRP?
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