Ripple (XRP) Tumbles Again as Market Breaches Support at $0.22

Dec 05, 2019 at 13:18 // News
Author
Coin Idol
Ripple breaches the support at $0.22

The Persistent tussle between the bulls and bears over the support at $0.22 has given the bears an advantage over the bulls. Buyers could not sustain hold above the support because of the absence of buyers at the previous highs. Yesterday, XRP dropped suddenly to $0.21, but a pullback was not sufficient to keep the coin above the $ 0.22.

The market is fluctuating above the $0.21 which is an occasion for buyers to climb and sustain hold above the $0.22. Failure of the bulls to sustain hold will create a gradual decline of XRP. Undoubtedly, sellers will push the coin to retest the low at $0.20 when the downtrend recommences. Ripple will be in a serious depreciation if the low at $0.20 collapses.

Ripple (XRP) Indicator Analysis

The EMAs act as a resistance to the coin. Ripple is repelled each time the coin tested the EMAs. Ripple fell and it is approaching level 29 of the RSI. This signifies that bulls may come in as the market reaches the oversold region.

1575546021158_XRP-CoinIdol.png

Key Supply Zones: $0.35, $0.40, $0.45

Key Demand Zones: $0.25, $0.20, $0.15

What Is the Next Direction for Ripple (XRP)?

There are strong indications that XRP could tumble again if buyers fail to hold the price at $0.21. The indicators are still showing bearish signs as the market fluctuates at the price of $0.21. Traders are to adjust their stop-loss orders in case price moves downward. Nevertheless, XRP will begin to rise if the coin breaks above EMAs.

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

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