Ripple

For the past few days, Ripple has been trading in a tight range. The price movement is insignificant. Previously, XRP has been consolidating between $0.43 and $0.50 price levels.

Since March 16, the bulls have been retesting the $0.48 resistance level consistently. Unfortunately, XRP will be repelled after each retest. On March 16, XRP encountered a price spike as the altcoin rallied to $0.52 high.

Today, there is a price spike as XRP rallied to $0.52 high after breaking the resistance line of the descending channel. Soon after reaching the recent high, the price plunged back to the channel.

Ripple (XRP) price has fallen to a low of $0.43. The price is now consolidating above the $0.43 support. A further downward move will only arise if the current support is breached.

Ripple bulls have turned down after retesting the $0.48 resistance level. For the past three days, the bulls have been retesting the resistance level to break it. Consequently, XRP slumped to a low of $0.45.

Ripple Labs, the company behind XRP cryptocurrency, has been passing through a lot ever since a case was filed against it in the courts of law.

Ripple is range bound between $0.45 and $0.50 price levels. Today, the XRP price rises to $0.487 high but presently the price has fallen below $0.48 low. There is a tendency for an altcoin to further decline. In the previous price action on March 4, XRP rallied to a $0.487 high.

Following the recent breakdown, the XRP price corrected upward but the uptrend was repelled at the $0.50 high. The altcoin resumed a downward move as a result of the resistance.

Yesterday, Ripple retested the overhead resistance at $0.65 but failed to break above the recent high. A breakout would have seen the altcoin reaching the high of $0.78 but the reverse was the case.