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Ripple price analysis: Short term breakdown, medium term ranged

FX Street
Updated:
  • XRP breaks short term support.
  • Medium term ranged, long term shaky.

Ripple, the payments solutions cryptocurrency with sky high ambitions to solve and streamline international payments solutions market, has broken down of a short term ascending trendline support while medium term still remains in a range.

XRP/USD is down about 2 percent on day at $0.275, tad above the day’s low. Ripple bulls have lost the momentum as it has broken down of a key ascending trendline support on the 30-minute chart and now is headed towards its medium term support of $0.25.

There comes medium term trendline support for this crypto while on the upside ranges keep coming lower, thanks to descending trendline on the 480-minute chart, which for now, is placed at $0.30.

XRP/USD 30-minute chart:

XRP/USD 480-minute chart:

 

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