How is the technical outlook progressing as Ripple (XRP) retraces from a key resistance point?
XRP, which has come to the fore again in the light of developments on the SEC side, has been under selling pressure from an important resistance point in the short term. In addition, XRP, which could not overcome the minor resistance point, seems to be on its way to $ 0.503. But this situation can change at any time, both technically and fundamentally. How are things going on the technical side of XRP? What levels should be considered?
Ripple (XRP) chart evaluation
XRP, which showed a less rise compared to other altcoins with the reaction from $ 0.503, clearly could not overcome the resistance of $ 0.527. The major coin, which tested $ 0.546 with the positive outlook in BTC in the past hours, is currently trading around $ 0.52. As long as the upward pricing continues on the XRP side, 0.527 – 0.546 – 0.565 and 0.579 dollars can be expected to act as resistance, respectively.
If BTC falls below $27,200 or any negative news that could shake the industry, it will naturally bring the XRP price down. Support points to follow in popular China in such a scenario are $0.503 – 0.487 – $0.449 and $0.428 respectively. In particular, the buyer response at $0.428 will be decisive in the medium-long term price of XRP.
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