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Ripple’s XRP price analysis: Calm after the storm

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  • Top assets bleed as the crypto market adds $2 billion.
  • XRP waterfall drop occurred after the bulls failed to break above the resistance at $0.3850.
  • The bulls lack a catalyst to help them sustain upside movement above the 23.6% Fib level.

The cryptocurrency market volatility levels are still high in spite of the prediction that the digital assets will reverse the downtrend. Ripple’s XRP has not been spared by the devastating declines this week. Although most of the top 20 cryptos are languishing in bear pressure, the market has recovered by $2 billion in the last 24 hours according to the data on CoinMarketCap.

Ripple’s XRP suffered a devastating fall yesterday. The waterfall drop occurred after the bulls failed to break above the resistance at $0.3850. The bears reacted with revenge as they sent the crypto spiraling below the Simple Moving Averages (SMA) (15’ range). Breakdown continued on the price breaking below the support at $0.35. Luckily, a correction occurred at $0.3250.

The bounced has continued on Friday 11, however, the resistance at the 23.6% Fib retracement level is proving to be an uphill task. XRP/USD is trading at $0.33, similarly, it is between the moving average support and resistance. Where the 50 SMA is offering support currently at $0.3327 while the 100 SMA coincides with the above mentioned 23.6% Fib level resistance.

Looking at the chart, the technical indicators applied show that the bulls are in control at the moment. However, they lack a catalyst to help them sustain upside movement above the 23.6% Fib level. The Relative Strength Index (RSI) is almost touching the oversold region while the Directional Movement Index (DMI) is at 43.47 and still heading in an upward direction.

XRP/USD 15-minutes chart

Source: fxstreet

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Ripple (XRP/USD) forecast and analysis on July 17, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.3162. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Ripple (XRP/USD) forecast and analysis on July 17, 2019

As part of the forecast Ripple course is expected to test the level of 0.3270. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2620. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator at 0.3450.

Ripple (XRP/USD) forecast and analysis on July 17, 2019

Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 0.3620 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on July 17, 2019 implies a test level of 0.3270. Further, it is expected to continue falling to the area below the level of 0.2620. The conservative area for selling Ripple is located area of 0.3450. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3620. In this case, we should expect continued growth.

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Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

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  • The bear pressure further pushed Ripple below $0.29 before forming lower support at $0.28.
  • “I agree that crypto isn’t likely to replace fiat currencies,” Garlinghouse.

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. However, the bear pressure further pushed Ripple below $0.29 before forming lower support at $0.28.

The debate surrounding Facebook’s Libra project has seen the CEO of Ripple Brad Garlinghouse advise the crypto industry to work hand in hand with regulators to guarantee success. In a series of tweets, Garlinghouse said that it unlikely that crypto will take the place of fiat currencies in the financial economy.

“I agree that crypto isn’t likely to replace fiat currencies – I have been very vocal that crypto isn’t likely to disrupt the US dollar and other G20 currencies in my lifetime,” he wrote.

Meanwhile, XRP has recovered stepping above $0.3 as the bull’s push towards the falling wedge pattern breakout. Although movement north is still hampered by the selling pressure, XRP/USD has a positive technical picture as seen on the 2-h chart.

Also Read: Cryptocurrencies are not substitutes for fiat currencies – Brad Garlinghouse

The Relative Strength Index (RSI) is currently horizontal at 46 following a recovery from the levels at 30. At the same time, the Moving Average Convergence Divergence (MACD) is stuck in the negative side but moving sideways at -0.004 in addition to having an inclination to the upside.

BTC/USD 2-h chart source

source:.fxstreet.

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Has #XRPArmy Turned Against Ripple? Not Really

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XRP’s recent drop below the $0.30 level was a major test for Ripple’s Twitter army, but they won’t abjure their allegiance

Tiffany Hayden, one of the most vocal members of the XRP army, has been suspected of becoming a non-believer after questioning the strength of the Ripple network. 

That conveniently coincided with the XRP price nose-diving below the $0.30 mark due to the continuous market sell-off.

Everyone who keeps tabs on crypto Twitter has hardly seen any negative comments about Ripple posted by Hayden. However, she recently assumed that the network wouldn’t last much longer if Ripple shuttered that night.

There were legitimate reasons to believe that this might be the case given the painful experience of Stellar, which is considered to be Ripple’s direct competitor.

However, despite these concerns, Hayden made it absolutely clear she hasn’t lost her faith in XRP, claiming that she would rather sell a kidney than her bags of Ripple’s native token.  

She later clarified that the kidney wouldn’t be her own (hopefully, she was joking).

Notably, Ripple’s XRP turned out to be one of the best-performing currencies during the recent sell-off, clinging onto the $0.30 price tag. 

XRP records a modest drop

Image by CoinMarketCap

Still, its underwhelming overall performance in 2019 made many XRP investors reconsider their loyalty.

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