Ripple (XRP), which has been in a falling trend structure for several days, has tested further lower levels with the price movements in Bitcoin (BTC).
The major coin, which has been trading in a falling trend for approximately 6 days, has come to a decision-making region. XRP, which has been trading with a depreciation of $ 0.855, is $ 0.726 as of the writing of the news. In this process, both the discourses on Ripple and the risky price movements in BTC were effective. If XRP cannot protect its space, it may experience larger declines. So what’s the latest on the chart? What price points should be followed?
Ripple (XRP) chart evaluation
When we consider the 2-hour chart of XRP, we see that it has entered a downtrend after touching $0.855. Currently trading at $0.72, the popular coin is trying to find buyers from the support zone. XRP may experience further declines with the downside break of $0.72. The points that can be followed as support in this scenario are $0.701 – $0.668 and $0.646, respectively.
XRP may regain momentum in case of positive developments in the SEC case or BTC hitting above $30,000. In this case, the resistance zones to be watched on behalf of XRP are 0.765 – 0.789 – 0.806 – 0.822 and 0.855 dollars, respectively. In particular, $ 0.855 is of critical importance, and instant rises to $ 0.93 can be observed when this is exceeded.
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