Ripple price analysis: Even after a breakout, bulls fail to hold on gains

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  • XRP fails to hold to gains after breakout.
  • Goes back to the lows hit earlier.

Ripple prices, after breaking out later last week, gave back all the gains as the bulls failed to capitalise on the gains after the breakout and now the lows hit earlier this month, stare on the bulls’ face.

XRP/USD is up about 2 percent for the day at $0.452, at the high point of the day after hitting day’s low of $0.4348. On the 480-minute chart, XRP broke out of a descending trendline, late on last Sunday and prices kept rallying up and away for major part of the week, only to give back all that it gained later in the week.

End result is back to square one and it is very close to the lows hit earlier this month. Anymore attempt to hit the lows could be catastrophic for the prices and a close below $0.40 would mean prices could even halve from those levels.

XRP/USD 480-minute chart:

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