Ripple

Ripple struggles above $0.18 support after a disappointing rebound. XRP had earlier rebounded on April 6, as the market moved up to $0.20500.

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Ripple fails to breach the $0.20500 resistance as bears sink XRP downward. Last week, XRP had earlier rebounded at the $0.18 low to reach $0.20500 high.

Ripple is still trapped below $0.20500 resistance after the last rebound. The bulls are unrelenting as the price continues to retest the $0.20500 resistance. In the first retest, the bulls were repelled as the price fell to $0.19 low.

The bulls are unrelenting as the price rebounded at a low of $0.17950 to push XRP out of the range-bound zone. Since the last breakdown at the low of $0.12, the bulls have been pushing XRP to the previous highs.

The Ripple uptrend is under serious threat by sellers at the $0.18500 resistance. The bulls have earlier broken the resistance line of the descending channel, paving the way for a change in trend.

Since March 26, Ripple has been consolidating above the $0.17 overhead resistance despite breaking the resistance line of the descending channel. Certainly, with the breaking of the resistance line, the market should have a change in trend. Rather the pair remained in consolidation indefinitely without regard to the price action.

The pair has been trading consistently at $0.17 for the past four days. Unfortunately, buyers have failed to sustain prices above $0.17. Certainly, the market would have risen to a high of $0.20, if buyers pushed the price above $0.17.

A positive move has been made by the bulls as they penetrated and broke the two weeks old resistance level. Undoubtedly, as earlier discussed this move may attract more buyers in the long run.