Ripple Pulls Back and Faces Rejection at $0.20 Resistance
It was the low that was responsible for the downtrend. Ripple is falling weakly after the resistance. However, the bears may push the price down below the $0.18 low if the selling pressure continues. A successful bearish run again will deepen the coin to a low of $0.15.
Meanwhile, strong defense by the bulls at the $0.18 low may result in a sideways move between $0.18 and $0.20.
Ripple (XRP) Indicator Analysis
Key Supply Zones: $0.35, $0.40, $0.45
Key Demand Zones: $0.25, $0.20, $0.15
What Is the Next Move for Ripple (XRP)?
XRP fails to move up to the previous price range after a pullback. Unfortunately, Ripple was resisted at $0.20 as the bearish run resumes. The survival of the coin at $0.18 will depend upon the ability of buyers to defend the current low. Otherwise, XRP will fall to $0.15 low.
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.