PrimeXBT is here again with another technical analysis breakdown, and today we are taking a look at XRPUSD.
News and Fundamental Analysis:
Fintech startup Ripple announced the launch of a new project called “xSongs”, which allows musicians to sell their work for XRP on a special platform. Payment is made through the Payburner integrated payment system.
At the time of writing, XRP is trading at $0.18, which is the lowest price the token has traded at since early-November 2017, which represents a painful 95% decline from its all-time highs.
Technical Analysis:
2019 was definitely not the year to buy XRP’s many dips. The third-largest cryptocurrency just kept spiraling down without showing any signs of reversing its strong downtrend.
If the trading volume doesn't increase in the short-term, bears will continue to push XRP's price to its next support zone, which is the best location to place buy orders.
RSI is clearly oversold.
Watch closely for our future updates to be the first one to get well-timed trading signals!
Best of luck with your future trades!
News and Fundamental Analysis:
Fintech startup Ripple announced the launch of a new project called “xSongs”, which allows musicians to sell their work for XRP on a special platform. Payment is made through the Payburner integrated payment system.
At the time of writing, XRP is trading at $0.18, which is the lowest price the token has traded at since early-November 2017, which represents a painful 95% decline from its all-time highs.
Technical Analysis:
2019 was definitely not the year to buy XRP’s many dips. The third-largest cryptocurrency just kept spiraling down without showing any signs of reversing its strong downtrend.
If the trading volume doesn't increase in the short-term, bears will continue to push XRP's price to its next support zone, which is the best location to place buy orders.
RSI is clearly oversold.
- Support Zone: $0.156 - 0.126
- Resistance Zone: $0.23
- Market Cap: $8 617 420 343 USD
- Volume (24h): $1 919 553 863 USD
- Circulating Supply: 43 310 265 523 XRP
Watch closely for our future updates to be the first one to get well-timed trading signals!
Best of luck with your future trades!
Trade active:
Main Ripple XRP Analysis for Today
Comment:
Ripple (XRP) Price Likely to Hit Next Mid-Term Target
