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Ripple's XRP rate significantly outperformed Ether during these market declines, making it the largest market capitalization alternative market. After testing the support at $ 0.4 several times, XRP fell below this level at the weekend and hit a low of about $ 0.31 yesterday.
The price has since risen to $ 0.35, but the dynamics remains largely on the sellers' side. Both the RSI and the MACD are down, a sign of growing sales momentum.
Yesterday's candle formed a Doji in XRP. A Doji is where the opening is around the same point as the closing and can have long locks. This usually shows some indecision on the markets. Today's candle is in a downward trend, with prices rising from $ 0.37 to about $ 0.35 currently. The performance is mixed on the rest of the cryptocurrency market.
Overall, XRP's price action has bearish trends. The price action struggles to appreciate despite the increasing number of other altcoins over the past 24 hours. However, the declines were sharp and on a large volume.
The increase from the lows of yesterday seems to have met a resistance at the time of 50 EMA. The price has fallen more sharply over the last few hours and should continue to fall. The next level of significant support is the point of $ 0.3, which should be an important point for traders.
Points to remember:
- After several tests, the XRP falls below support at $ 0.4 and forms a minimum around $ 0.31.
- The next probable level of support will be $ 0.30, which is an important point for traders.
- The price is currently trading around $ 0.35, but the momentum is on the sellers' side. The RSI and MACD indices are down and the price action is decreasing on a large volume.
| WARNING: Investing or trading digital badets, such as those presented here, is highly speculative and carries significant risks. This badysis should not be considered as investment advice, use it only for information purposes. The historical performance of the badets discussed is not an indication of future performance. The statements, badyzes and information on blokt and badociated or related sites do not necessarily correspond to the opinion of blokt. This badysis should not be construed as advice to buy, sell or hold, or as an endorsement or recommendation of any particular badet. |
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