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  • Ripple is over 20% lower on Thursday on a bad day for the crypto community.
  • The price has a historical low close to where the price is now.

XRP/USD Daily Chart

Looking at the daily chart below you can see marked by the big red arrow a support level from 16th July 2017. The market was pretty volatile back then and the massive price crash managed to find some support at the 0.12900 mark. Will it happen again only time will tell.

Below this chart, I have also added a chart of the current price action. In this chart, you can see that the price support is not too far off the 138.2% and 161.8% Fib extension level which could help if that level is broken. This would take the pair in unchartered territory and Bitfinex data also has an important level at 0.13500 which could come into play.

In these kinds of markets, it seems cash is king. You will need to keep your wits about you but there are opportunities to be had.

Ripple price drop

Current Chart

Ripple price drop

 

Additional Levels

 

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