Ripple Stuck?
Dear traders,
Ever since January it's been clear that crypto has been in a decline since it's massive bull run, one of the hardest hit cryptos this year has been Ripple (XRP), it has been in a constant bearish trend like most cryptos however it's gone below 50, 100 and 200 EMA which indicates it could drop a lot further if this trend continues. On top of that the gap between the 3 EMA's is only getting wider showing the market is still going lower. However if it can break this trend there is a change it could test old resistance points and potentially go higher again, however if this isn't the case and this death cross continues we could see $0.35 XRP again which may become a attractive buying opportunity for investors aswell as a key support for XRP before it goes to $0.25.
I'm not a financial adviser and claim no responsibility for your investments please do your own research!
Ever since January it's been clear that crypto has been in a decline since it's massive bull run, one of the hardest hit cryptos this year has been Ripple (XRP), it has been in a constant bearish trend like most cryptos however it's gone below 50, 100 and 200 EMA which indicates it could drop a lot further if this trend continues. On top of that the gap between the 3 EMA's is only getting wider showing the market is still going lower. However if it can break this trend there is a change it could test old resistance points and potentially go higher again, however if this isn't the case and this death cross continues we could see $0.35 XRP again which may become a attractive buying opportunity for investors aswell as a key support for XRP before it goes to $0.25.
I'm not a financial adviser and claim no responsibility for your investments please do your own research!
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