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Ripple steps back following upside breakout failure yesterday

15 Jun, 2021

Following an update here yesterday on the progress of Ripple (XRPUSD), the price did make a move to test the noted 21 day moving average that was in place around $0.9230. In fact, the price did briefly rise above that price point to as high as 0.9291. That move coincided with the rise above 41k in Bitcoin and came just ahead of the 4pm London FX fix too. However, the rise was soon reversed and the price later fell back below 0.89 around the time of the wider US market close. Today it has tried to hold a rebound back above 0.90, but despite three attempts thus far it has been unable to make progress beyond that level. XRP has now fallen back closer to 0.87 in what is a really tight range for this one so far today. The price action has been covered by 0.8735 to 0.9014. Meanwhile that 21 day moving average is still falling and comes into play right now at 0.9210. XRPUSD is just now trading at 0.8790

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