Ripple price failed to break the resistance at $0.20 ammonizing the buyers to force a reversal under $0.19

20 Apr, 2020

By John Isige

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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

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Ripple Price Action Stalls Under the 50 EMA: Swing To $0.17 Seems Imminent Before Surge Above $0.20
XRP/USD underperformance since the beginning of 2019 alarms investors but Ripple maintains it has no influence on the price of the token.

Ripple price lagged last week’s breakout in comparison to Bitcoin which hit levels above $7,300 from lows at $6,500 and Ethereum’s lift-off from levels at $160 to highs testing $190. XRP/USD recovery journey was not dramatic, however, it lost steam before hitting the critical hurdle at $0.20. The weekend session remained drab with selling pressure intensifying towards $0.20. XRP/USD dived under $0.19 but the concentration of buyers above $0.1850 has seen stability dominate the last 72 hours.

At the time of writing, XRP is trading at $0.1939. The crypto has added a cool 2.47% onto its value on the day after opening the session at $0.1891. Ripple currently phases a bullish trend whose impact is affected by the shrinking volatility.

The immediate upside is limited by the 50-day Exponential Moving Average. It is apparent that buyers are working hard to kick off this week’s trading above the moving average. Stepping above this MA could easily increase the bulls’ influence as they change their focus from $0.20 to higher levels at $0.30.

Ripple price underperformance among the top 30 cryptocurrencies continues to alarm investors and the XRP community. However, the company maintains that it has absolutely no influence on the price of XRP. On the other hand, their period sale of XRP tokens has been blamed for the underperformance.

XRP/USD daily chart

According to the Moving Average Convergence Divergence (MACD), Ripple is currently in the hands the bulls. However, it lacks a catalyst to sustain a breakout above 0$0.20. Meanwhile, the bulls will remain in control in the coming sessions ahead of possible breakout in tandem with the bullish cryptocurrency market.

Ripple Intraday Key Levels

Spot rate: $0.1934

Relative change: 0.0042

Percentage change: 2.47%

Trend: Bullish

Volatility: Shrinking

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.