Ripple

Ripple has been in a downward move since February 13, after its rejection twice from the $0.65 overhead resistance. After finding support above $0.50, the market moved up to $0.57 high.

Since February 17, buyers have not been able to push above the $0.55 price level. The bulls and bears have been in price tussles for the past week.

Many countries are shifting towards introducing their own state-backed digital currencies. Central banks are exploring the potential of CBDCs. But is this effort really a good move on the rest of private coins including Bitcoin, Ethereum, and XRP?

Today, February 16, 2021, the market has dropped to $0.55 low because of the bulls’ inability to break the minor resistance. The price is consolidating above the $0.55 support and if it holds, XRP will resume an uptrend.

Ripple has been rising consistently after breaking above the $0.50 resistance level. The price is making a series of higher highs and higher lows. At each higher high, the price would fall to the previous low.

Ripple has been making a consistent upward move but battles the resistance at $0.50. The bulls have succeeded in breaking the resistance at $0.50 thrice. However, on each occasion, the price would fall below the $0.50 resistance.

Today, XRP is in a downward move after the uptrend was repelled at the $0.50 resistance. However, after fluctuating above the $0.45 support, the price retested the $0.47 high and resumed the downtrend.

Yesterday, Ripple bulls made positive moves into the previous highs after a disappointing price spike. The upward move has been stalled at the $0.50 resistance.

Ripple is facing rejection at the $0.40 resistance. Today, the coin has fallen to $0.39 low after failing to move up above the current resistance.