Home Ripple Technical Analysis: XRP/USD suffers a devastating blow as 88 million tokens remain stolen
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Ripple Technical Analysis: XRP/USD suffers a devastating blow as 88 million tokens remain stolen

FX Street
Updated:
  • The PlusToken scam still has an effect on XRP as 32 million tokens were just sent to HBTC.
  • XRP has failed to hold $0.30 and it’s now trading at around $0.27.

The weakness of XRP is quite apparent as the digital asset gets closer to a crucial support level at $0.255. This low formed on August 27 is really the only support level on the way down beside the 100-EMA and the 200-EMA.

XRP/USD daily chart

XRPUSD

There has been a clear shift in momentum for XRP on the daily chart which is now in a downtrend or at least extremely flat. Bulls have lost both the 26-EMA and the 12-EMA and they have been rejected from $0.30 again.

We are seeing a significant increase in trading volume over the past 24 hours due to the overall market weakness and the MACD continuously in red.

 

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