Ripple resumes the decline after a failure at $0.3000. XRP/USD is moving within the short-term downside trend. Ripple’s XRP peaked at $0.3041 on October 17 and retreated to $0.2890 by the time of writing. The third digital coin with the current market capitalization of $12.5 billion has lost nearly 5% of its value on a day-on-day basis, though it is still in the green zone on a day-on-day basis. The bulls failed to keep the price above the psychological $0.300 and lost the initiative to the short-term sellers. Looking technically, the price faced strong resistance at $0.3000, strengthened by the upper line of the Bollinger Band on a daily chart. While the coin is still above SMA100 (Simple Moving Average) on a daily chart, an increased bearish sentiment on the cryptocurrency creates a new bearish wave. A sustainable move below $0.2800 will worsen the technical picture and bring XRP to the upside trendline at $0.2730. On the upside, we will need to see a sustainable move above $0.2900 to allow for another try at $0.3000 Once it is out of the way, the upside is likely to gain traction with the next long-term focus on $0.3300 with SMA200 daily located on approach. Notably, XRP/USD has been trading below this MA since July. XRP/USD, daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Litecoin market update: LTC/USD gazes into a bottomless pit FX Street 3 years Ripple resumes the decline after a failure at $0.3000. XRP/USD is moving within the short-term downside trend. Ripple's XRP peaked at $0.3041 on October 17 and retreated to $0.2890 by the time of writing. The third digital coin with the current market capitalization of $12.5 billion has lost nearly 5% of its value on a day-on-day basis, though it is still in the green zone on a day-on-day basis. The bulls failed to keep the price above the psychological $0.300 and lost the initiative to the short-term sellers. Looking technically, the price faced strong resistance at $0.3000, strengthened by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
