Ripple

Since April 29, the bears have overwhelmingly subdued the bulls as buyers failed to break above the downtrend line. The downtrend line shows the resistance levels of the price of Ripple.

Since May 14, Ripple’s bulls have failed to sustain the price above the $0.205 resistance. In the several attempts made at the resistance, buyers have found penetration difficult and have resorted to sideways movement below it.

Ripple is range-bound below the $0.205 resistance after several attempts to break above it. Buyers made four attempts at the resistance without a breakout.

The concerted efforts made by the bulls to push above the $0.20500 resistance have failed after a second attempt. The bears are strongly defending the $0.20500 resistance.

Yesterday, buyers turned down from the $0.20500 resistance after an attempt to push the price above it. Certainly, the bulls lack buying power at higher levels.

About 48 hours ago, buyers took the initiative to reach the $0.20500 resistance but were resisted. Before now, Ripple has been sunk to $0.17500 low after a breakdown on May 10.

For the past week, Ripple has been trading above $0.21. There was a major selloff last Saturday as the bears broke the next support at $0.020500 and slumped to $0.17501 low. The bulls managed to push price to $0.20 resistance.

Ripple has remained above the $0.21000 support for the last four days. The market has been fluctuating below $0.22 resistance.

Since Ripple traded and reached the overbought region of $0.23500 and its subsequent fall, XRP has settled above $0.21 price level. Buyers have failed to push prices above the overbought region.