Ripple Chart Analysis
Ripple (XRP) continues to be in a downtrend that has been going on for weeks and there is nothing to suggest that the trend will be reversed anytime soon. At the moment, we are at around USD 0.62 and a market capitalization of about USD 29 billion.
Meanwhile, XRP has even fallen below our support zone and confirmed it as resistance. Below us, there are still 2 blue support lines. If these also fail to hold, XRP could face another major sell-off. To avert this, we need to break the downtrend with volume.
XRP/BTC Chart Analysis
The XRP/BTC daily chart also shows Ripple’s strong downtrend against Bitcoin. Currently, we are at a price of around 0.000018 BTC, which is right in our support box.
XRP did try to break out of this downtrend, but was unable to hold this and has fallen back into the downtrend. At the moment, there are no signs in the MACD, nor in the RSI (Relative Strength Index), which could indicate a trend reversal.