Post-crash impact: What’s next for XRP price?
Despite XRP’s decent performance over the weekend, it still failed to withstand this pullback.
Important support: $0.54
Important resistance: $0.68
Price reversal
After briefly reaching 66 cents, XRP price suddenly fell sharply, giving back most of the gains since late September. This is back to square one. Buyers simply can’t handle the overall deterioration of the market this week.
Sellers are back
The optimism of the past few days has disappeared as soon as the price fell. With fewer buyers, there is less hope of pushing the price higher. The most important resistance point is still 68 cents, and the key support point is still 54 cents. Hopefully XRP can quickly rise back above 60 cents.
No momentum
The moving averages are about to form a bearish crossover. The histogram has also been at a relatively low high for the past four days, which is a good sign for sellers.
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