Price Analysis

XRP/USD Stumbles: Will Ripple’s Announcements Come to Rescue?

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It is fascinating to see how the crypto giants are putting their blood, sweat, and tears these days to ease the current agitation of investors. The market is fighting against bears with all its might, but bears are continually keeping the traders away from any soothing spell regarding the prices of the coins.

The bulls seem to have turned their back on the market, including those coins on which the crypto space largely depends upon. Apparently, all the crypto behemoths are fighting tooth and nail to strengthen their fundamentals while keeping their userbase engaged.

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Recently, XSping, a platform of Ripple, has showcased an app named Xumm. This app is designed to offer the users of XRP ledgers a vast range of features and functionality that enables you to “be your own bank.” The app lets you operate and create accounts while allowing you to send and receive funds, track transactions, check balances, and exchange value on the XRP Ledger.

Current Bearishness: A Rise in Investors’ Engagement or One More Market Crash?

The toughest part of this volatility is that it gets difficult to have a hold on an optimistic viewpoint, while the XRP/USD is showing extreme downside moves. While these frequent and strong red candles are hitting the panic button, developers behind these coins are warmly opening their arms for more engagement.

The market is giving two major reasons to get into space right now: 1) Reduced prices of precious coins allowing an investor to take an entry and 2) exciting offerings by the digital coins like Ripple.

Moreover, the current disturbed state of the traditional markets too is causing people to look at the cryptocurrencies with a changed and positive approach. However, the unmanageable uncertainty of the space is still haunting many. The same uncertainty has again deteriorated XRP’s trend once again; it is to be seen when the coin strikes its much-needed bullish breakout.

XRP Price Analysis

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XRP/USD Chart By TradingView

XRP coin is actively looking for a support level at $0.19 to bounce back towards a bullish spell. The price is below the 38.20% fib level, as it has breached support levels at $0.20 already. A stable rally above $0.21 is a must for recovery, while a move below $0.1910 can invite bears.

Among its technical indicators, MACD has started entering the positive area while the Moving averages have formed a bearish crossover. Also, the altcoin is supposed to see resistance at the 50% and 61.80% fib level.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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