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The Ripple Course Returns To $1

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Token XRP platform Ripple suffered as a result of the correction of the crypto-currency market, like most other crypto-currencies.

Today, the rate of XRP fell to a minimum level for 2 weeks – $ 0.99. The pair XRP / USD lost 11.86% in the last 2 hours, according to Coinmarketcap.

At the time of writing, the third world crypto currency rate is $ 1.01. So low XRP fell for the last time on January 17, then its rate reached $ 0.85.

On Jan. 18, the recovery was outpaced at $ 1.72. After that, the XRP was steadily losing ground, and the highs were getting lower, despite the fact that large financial firms publicly expressed their interest in Ripple.

In its losses, XRP is not alone today. The courses of all crypto-currencies from the Top-20, except for the etherium, are now painted in red. Bitcoin lost 8.69% in the last 24 hours, Cardano and Stellar – 14%, and Bitcoin Cash – 10%.

The charts show that the rate of XRP in the near future can reach the level of $ 0.8647.

XRP chart

Moving averages for 5 and 10 days are tilted down, in favor of the bears. On the further losses for XRP says the index of relative strength. The mark of $ 0.8647 is the meeting point of the moving average for 100 days and 78.6% of the Fibonacci retracement from the low of December 7 to the high of January 4.

Opinion

In the next 24 hours XRP may be at around $ 0.8647. Closing below $ 0.8647 will open resistance at $ 0.6353 (the low of December 18). However, a descent below $ 0.8647 may bring the relative strength index for 4 hours and per day to the oversold territory (below 30,000). Thus, the probability of a further fall below $ 0.6353 is very small.

Bull scenario: closing above the moving average for 10 days can transfer the situation into the hands of bulls, which can lead to a short-term consolidation.

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