Coin Market Cap - Ripple (XRP) Price & Analysis, June 17, 2021 [CoinMarketCap]
It has been an amazing year for the digital property XRP, which revealed amazing growth in the last couple of months. Announcing in December 2020 that the SEC would sue Ripple for carrying out an unregistered securities offering had a substantial influence on the value of XRP going into the new year.
XRP has actually continued to publish three-year highs ever since, and reached $1.9669 in mid-April, in spite of the SEC news. Negative news hit the crypto-verse once again in the last couple of days of May, causing Bitcoin and XRP dropping to a low of $30k and $0.65, respectively.
Crypterium research study experts anticipate that if the $0.80 support is not kept, XRP might retest $0.65. XRP is currently trading at $0.8464. This is what they said:
"XRP price continues to drop and is down 5.2% on the week. A descending triangle pattern is visible on the chart. Buyers offer solid support around the $0.80 mark.
The coin has not yet shown any signs of growth after the current decreases. As a result, we expect a decrease to $0.65, with a possible breakdown above that level.
The 200-day moving average is presently the last line of defense of XRP from a bearishness, as holds true with a lot of digital properties in the crypto market at the moment.
XRP/USDT chart reveals that the important moving average is providing support at $0.72.
A weakened structure by XRP shows up from XRP's day-to-day MACD, MFI, and RSI indications, all of which show a retest of the 200-day moving average.
To put it simply, if bulls stop working to protect XRP at the 200-day moving average, the remittance coin will probably go on to retest its previous low of $0.65.
Details: The higher the crypto market capitalization, the bigger the share that a cryptocurrency has around the total market.
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