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Ripple drifts lower from weekend gains

14 Jun, 2021

On Saturday, the drop back below 35k on Bitcoin undermined the many lesser coins too. That was applicable to Ether, as was noted here earlier today, but is also had a further downside impact on Ripple (XRPUSD). The price fell to as low as $0.806 on Saturday. The ensuing rebound continued with more earnest later on Sunday, as BTC reclaimed levels above 38k. The further rise in the XRP price peaked earlier today, when it rose to $0.8931 and since then it has been gradually losing steam. The continuation of the price holding above the 200 day moving average is a longer term positive. That moving average is still rising. Today that stands at 0.7198. However, the rebound today has once again stopped short of breaching, or even testing the 21 day moving average. That is currently in place at 0.9230 and capped the topside all last week too. So, unless XRP can get above that price point, the immediate trend is still negative. XRPUSD is just now trading at 0.8710

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