Ripple price failed to gain momentum above the $0.4700 resistance and declined recently. XRP/USD is now approaching the next important break, with support at $0.4550.
Ripple price is moving lower towards the key $0.4550-60 support area.
Yesterday’s crucial bearish trend line is acting as a hurdle near $0.4610 on the 30-minute chart.
XRP price is approaching the next crucial break either above $0.4650 or below $0.4550. Yesterday, ripple price failed to break the $0.4700 and $0.4750 resistance levels. As a result, there was a downside extension and the price moved below the $0.4600 level. Looking at the 30-minute chart of XRP/USD, the pair is currently under pressure below the $0.4650 level and the 25 simple moving average (30-minute). The recent swing low was formed at $0.4553 before the price recovered a few points.It traded above the $0.4600 level and the 50% Fib retracement level of the last drop from the $0.4681 high to $0.4553 low. However, the upside move was capped by the $0.4610 and $0.4630 levels.Moreover, the 61.8% Fib retracement level of the last drop from the $0.4681 high to $0.4553 low also stopped the recovery in XRP/USD. At the outset, it seems like yesterday’s crucial bearish trend line is acting as a hurdle near $0.4610 on the same chart.Therefore, buyers need to clear the trend line and the $0.4650 resistance to gain bullish momentum in the near term. The next resistance is at $0.4700, above which the price will most likely climb higher towards the $0.5000 level.
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com and it can be bought with cryptocurrency on exchanges such as CoinEx, Binance, and HitBTC.
Click here to buy and sell Ripple at up to 50x leverage