XRP Price Is Still Stuck At $0.20 And In Desperate Need Of Action
While the Bitcoin price news are showing that BTC is attempting to breach $10,000 in the coming days and the ETH news show how Ether reached $235 in a couple of days only, the XRP price is still stuck at $0.20 and in a desperate need of an upward movement. Surprisingly for many, the Ripple price has been stagnant soon after the breakdown of the $0.20 resistance level.
Anyways, despite the low volatility, the bulls for Ripple have rebounded thrice to break the $0.20 resistance but to no avail. On each partial breakout above this resistance, the market will suddenly drop to a $0.192 low.
In other words, the Ripple news are showing that on every retest at the resistance, XRP has a corresponding bearish reaction. Still, significant price movement is underway despite the volatility.
Currently, the XRP price is still stuck in the $0.20 region and since the beginning of this month, the support has been holding after bearish onslaught – something that the Bitcoin price performance did not see problems with. You can easily see this in the monthly chart published above.
If we go into the Ripple indicator analysis, we can see that a move to $0.21 is close. Even though the XRP price is still stuck in the $0.20 levels, the $0.21 movement could come very soon – even today – if the cryptocurrency decides to ride that bullish wave.
In fact, the coin is above the 40% range of the daily stochastic banks, which are attempting to point downward indicating a downward move. Similarly, the price action is in a bearish signal and the price bars are below the EMAs indicating a downward movement of the coin.
For all we know, the XRP price is still stuck but may escape the $0.20 “lockdown” very soon. The good news is that even though Tether (USDT) overcame XRP as the 3rd largest coin earlier this month, the Ripple cryptocurrency managed to regain strength and regain the third position in the news.
Currently, XRP is trading with an uptick of 2% in the news today which is why it could definitely attempt a rise towards $0.21. If this occurs, investors will be happy and cheer for the Ripple price to gain even more in the future.
Are you investing in XRP? Are you satisfied with the Ripple XRP price performance this year? Let us know in the comments!