Ripple's (XRP) downside move appears to have subsided as price consolidates above $0.59 support. Bears have retested $0.59 support on three occasions, while bulls have bought the dips. Crypto upside has been restricted below $0.62 resistance.
Since May 19, Ripple has been in a bearish trend as the altcoin was repelled after testing the $1.70 resistance. XRP price was making a series of lower highs and lower lows as the altcoin slumped to $0.65 low.
Today, May 16, the Uniswap (UNI) is falling and has reached the low of $38. Still, the UNI price will retest the lower price range and resume upward. For the past two weeks, the bears have retested the lower price range twice.
Bitcoin Cash has been consistent in its bullish momentum as price broke above the minor resistance at $1,050. The current price surge is testing a resistance level at $1,100 which is obstructing the bullish momentum which has also been broken.
Recently, the South Korean Finance Ministry announced imposing a 20% tax on cryptocurrency earnings. Curiously enough, the decision comes a couple of days before the announcement concerning the testing of the digital won. Is this a way to push people away from cryptos?