Ripple Sinks as Bulls Fail to Sustain Price above $0.22

Despairingly, Ripple drops again after failing to jump over $0.22. The Market has taken a new shape, as price broke the $0.20 support level. The bear movement is ongoing as the price reaches a low of $0.19. Without any doubt, the coin is likely to find support at a low of $0.18.From the look of things, the bears are still in control of price.

In December, XRP price range dries up at $0.22 after price rejection. As Ripple collapses, the market records a new low this year. Presently, the coin has fallen to the previous lows of November and December 2017. Nonetheless, we expect XRP to hold at these historical price levels in 2017.

Ripple (XRP) Indicator Analysis

The price is deepening as the MACD lines fall below the zero lines. This indicates that XRP is a sell signal. Pointing southward are 12-day and 26-day EMAs which are indicating that XRP is falling.

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)?

Surprisingly, XRP is now in a downtrend as $0.20 cracks. Bull’s failure to jump above $0.22 has resulted in further depreciated of Ripple. The coin has deepened into the oversold region. Expectations are rife that buyers may emerge at the bottom of the chart. Traders are to look out for buy setups to initiate long trades. 

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.