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Ripple (XRPUSD) at risk of another relapse

07 Oct, 2020

Yesterday the drop in many of the leading alt coins and majors did not escape Ripple. The price fell back through 0.25 after it had failed to recapture 0.26. Earlier in the session the price stalled at 0.2593 and that was a concern as indicated here yesterday. The subsequent further fall back accelerated at the same time as the rest of the market went south and that later led the price through 0.25, to as low as 0.2404 yesterday evening. Now seeing as Ripple was ahead of the curve in respect of the downside move yesterday, it did not suffer than much at the start of the Asian session and actually managed to lead other coins back up. However, the rebound so far has stalled well short of recapturing 0.25. The high posted so far today has been set at 0.2469. The wider price action is still holding inside the 50 day moving average (still falling and now at 0.2600) and the 100 day moving average (still rising and now at 0.2366). All the while 0.25 caps the topside, then the risk is for a further move, to test that lower bound at 0.2366. XRPUSD is just now trading at 0.2450

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