Ripple Plunges to $0.18 Support, Attempts to Retest the $0.195 Resistance

Presently, Ripple has continued its downward move as the bears broke the $0.18 support. The bears have overwhelmed the bulls as buyers fail to breach the $0.0205 and $0.195 resistances.

Initially, if the bulls had broken the $0.205 resistance, the market would have reached a high of $0.25. The momentum also would have sustained to $0.28 resistance.

Equally, XRP would have moved out of the bottom of the chart. The inability of buyers to push the price upward has given sellers the advantage to sink XRP. Ripple fell to $0.1784 low but has pulled above the $0.18 support. Possibly, a rebound at the current support will catapult XRP over $0.19500 resistance.

Ripple Indicator Analysis

Consequent to the downward move, the RSI has also fallen to level 47. The implication is that Ripple is prone to falling again. The EMAs are sloping upward while 12day EMA provides support for Ripple.

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

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

What Is the Next Direction for Ripple (XRP)?

Notwithstanding its recent fall, buyers have successfully defended the $0.18 support in the month of April. Buyers also made concerted efforts to break the $0.195 resistance without success. All the same, $0.18 support is holding as bulls move up to retest the $0.195 resistance.

Disclaimer. This analysis and forecast are the personal opinions of the author that 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.