Wed, 03/25/2020 – 13:55
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The bearish mood has strengthened after Bitcoin (BTC) wasn’t able to reach $7,000. As a result, all of the top 10 coins are under seller pressure.
The cryptocurrency market capitalization has sharply dropped over the last day. This decrease may be connected with the recent price decrease of the main crypto. The current index amounts to $179.5 Bln.
Relevant data for XRP is below.
The data is relevant at press time.
XRP/USD: $0.15 as the bounce-off Level
XRP has remained in a relatively sideways trend over the past few days. Its bearish mood is not as vivid as that of Bitcoin (BTC) or Ethereum (ETH). In all, the XRP rate has fallen by 1.29%.
On the 4H chart, XRP has failed to hold above $0.1650 for the second time in a row. Respectively, its chances of rising have decreased. Moreover, there is not enough liquidity in the area around $0.17 and above.
All in all, XRP will retest crucial support at $0.15 soon before an uptrend continues.
On the daily chart, the bullish mood is prevailing over the bearish. The MACD indicator has just entered the green zone. Moreover, the Visible Range suggests high liquidity at levels above $0.18. In this case, we suspect April will be a bullish month for the third most popular crypto. The first resistance that XRP will attain shortly is $0.18.
XRP is trading at $0.1596 at press time.