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Ripples’ XRP Trades Near Bottom of Range – New 2018 Low Upcoming?

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XRP Daily Chart – Source: TradingView.com

Ripple’s XRP has been trading in a range from $0.29 to $0.31 since the market leader Bitcoin met support around $3300.

Bitcoin has since broken below this support and Ripple’s XRP has begun trading near the bottom of the range it has been forming.

$0.25 is the next significant area of support to monitor for XRP if it breaks below the range.

$0.25 is around the point where XRP formed its 2018 low and has also been an area of liquidity for XRP bouncing each time price has approached this point.

XRP Hourly Chart – Source: TradingView.com

The hourly chart shows the range which price is trading in in closer detail.

Price is now trading right at the bottom of the range around $0.29. It is likely that price will break below the range.

Momentum is on the side of the sellers with both the hourly MACD and RSI decreasing.

Key Takeaways:

  • XRP moves to the bottom of a range it has been forming as the market leader Bitcoin breaks below a key support level.
  • It is likely that price will break below the range with momentum on the side of sellers. Both the hourly MACD and RSI are decreasing.
  • $0.25 is the next key area to monitor if price breaks below the range. It is both the point where XRP formed its 2018 low and also has been an area of trading liquidity.

Ripples’ XRP Trades Near Bottom of Range – New 2018 Low Upcoming? was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.