Downtrend

Ripple is consolidating above $0.21 support as the price action is characterized by small body candlesticks. These small body candlesticks are called Doji and Spinning tops.

Ripple (XRP) has been battling with deeper correction after the breakdown to $0.18 low on December 28, 2020. At the beginning of 2021, Ripple price made an upward move.

Sellers have broken the $0.21 support signalling a further downward movement of the coin. The $0.21 support was the previous low where the coin fell before correcting upward.

On December 23, EOS plunged to $1.93 low, and the price corrected upward immediately. This bearish reaction was the result of an attempt by buyers to break the resistance at $3.20.

The upward move on December 24 was short-lived as Ripple faced another rejection. If buyers have pushed XRP above $0.50, the upside momentum would have resumed.

For the past 24 hours, Bitcoin Cash price has been hovering below and above the $320 resistance zone. Bitcoin bulls overcame their resistance on Christmas day but BCH failed to break its resistance convincingly.

Ripple slumps down after failing to break the $0.60 resistance. The altcoin had earlier rebounded on December 16 to retest the previous highs but could not.

Following its impressive runs in the last 48 hours, Ethereum faces rejection at the $680 resistance zone. The rejection was caused by a long wick on the daily candlestick which indicates strong selling pressure at a higher price level.

Bitcoin SV has been trading in a bear market for most of 2020. After a prolonged bearish market in the previous year, January 2020 started in upside momentum.