Chopping continues as XRP/USD loses 1.5% of its value on the day. Ripple is likely to explore lows towards $0.24 but a reversal is in the offing. Ripple bears have remained active since the Asian session on Tuesday. A flash drop on Monday smashed through the support at $0.25. XRP/USD tested $0.24 but the recovery from the dip stalled at $0.2550. Continued selling activity has pushed Ripple under $0.25 again. Short-Term support is being established at $0.2450 and is likely to stop the losses. Moreover, I expect XRP to start reversing the trend upwards anytime from now especially with the Relative Strength Index (RSI) showing short-term oversold conditions. The other indicator for a possible reversal is the Moving Average Convergence Divergence (MACD). The signal is turning bullish even as the MACD changes course to the upside. On the flip side, the still widening gap between the 50 SMA and the 100 SMA on the 1-hour chart suggests that the sellers’ influence could last longer. On a brighter side, the formation of a falling wedge pattern hints that eventually, a reversal will send BTC/USD significantly above $0.30. XRP/USD 1-hour 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 EUR/USD extra gains are likely above 1.1093 – Commerzbank FX Street 3 years Chopping continues as XRP/USD loses 1.5% of its value on the day. Ripple is likely to explore lows towards $0.24 but a reversal is in the offing. Ripple bears have remained active since the Asian session on Tuesday. A flash drop on Monday smashed through the support at $0.25. XRP/USD tested $0.24 but the recovery from the dip stalled at $0.2550. Continued selling activity has pushed Ripple under $0.25 again. Short-Term support is being established at $0.2450 and is likely to stop the losses. Moreover, I expect XRP to start reversing the trend upwards anytime from now especially with the… 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.
