Ripple (XRP) Wavers Again Amid Uncertain Crypto Market
- XRP Price has reached above $0.17 just now; holds support at $0.1627
- Ripple notes weekly high at $0.1836; 61.80% Fib level is still intact despite a few downward corrections
The top coins of the crypto market are operating in such a way that keeps an investor in a state of perplexity. The market is not being able to hold on one particular sentiment right now as the prices are continuing to waver.
Bitcoin, which had managed to recover above $6700 in the previous week, has recently declined below $6000 today, proving the presence of bears in the market. The persistent chaos in the market is visibly due to the terrifying pandemic Coronavirus.
The last month has been pretty much troublesome for all the markets, and this has affected the global economy to a significant extent. It seems, a full-fledged price surge, at least in the crypto market, can be achieved only after once Coronavirus finds an escape out of most nations.
XRP Price Prediction
While BTC price is nearing the $6000 price mark again, XRP has already climbed above $0.17. Before it closed yesterday, it formed a dip below $0.1650. Now when the coin has rebounded from the dip, RSI and MACD have started exploring the bullish zone.
Notably, in the first half of the previous week, XRP Value steadily rose above $0.18, with a hike of 23.54%. The following pullbacks have caused the coin to succumb to the downtrend. Here, the moving averages are also giving bullish signs.
Related: Check our Future Predictions for XRP
The currency is likely to see more volatility in the short term as the Bollinger bands have opened up. Also, the ongoing price recovery movement has ushered the XRP/USD above the 200-day EMA line with a bullish bias; however, since the last few weeks, Ripple coin has not stuck to any bias continuing an unpredictable attitude.