Ripple

Fluctuation has continued unabated as the resistance at $0.20 becomes unyielding. In the last 48 hours, the bulls were repelled at $0.19500 as the coin dropped to the low of $0.18500. It is a fact that the coin fluctuates between $0.18 and $0.20 but the bulls no longer penetrate above $0.19500 resistance. The bears no longer give the bulls’ space to move upward to the overhead resistance.

Ripple price movement has remained stationary over the last three days. Presently, the market is relatively stable between the levels of $0.18 and $0.20. The price has remained above $0.19 for the past one week. This is largely credited to the reduced selling pressure on the coin. In that case, the bulls may have a slim advantage over the bears.

Ripple is moving up while trading in the $0.17 to $0.20 range. The bulls have consistently tested the $0.20 price level for the fifth time but are unable to break it. On each unsuccessful attempt, the market retraces and falls to the $0.18 support. One cogent reason for bulls’ inability to penetrate the $0.20 price level is because of a lack of demand at higher price levels.

Selling has been relatively stable as XRP traded for the past four days. Ripple traded above $0.18 in the last few days as it moves up to retest the $0.20 resistance level. The relative stability of the coin means that the selling pressure subsided above $0.18. The bulls could have used that period to buy at the upper price level. Hopefully, Ripple is making an impressive move as it climbs above $0.19.

Today, Ripple is trading at $0.18 after establishing a price range of between $0.17 and $0.20. In the last one week, XRP has neither traded above $0.20 nor fallen below $0.17. Three days ago, the coin has been making gradual fall after facing resistance from the $0.20 supply zone. This has been the scenario for the past one week. As the coin moves downward, two things are likely to happen. One, the bears may want to break the $0.17 low and resume the downtrend

A week ago, XRP was in a bearish run as Ripple reached the $0.17600 low. Proficiently, the bulls defended the $0.17 low as more buyers at a lower demand zone were encouraged. The eventual rise was interrupted at $0.20 supply zone. The bulls were not able to break through the $0.20 price level.

Regrettably, ETH sunk to a $120 low after the bulls failed to check the rampaging bears at $140. Initially, the coin had a breakdown at $160 support and XRP fell beneath $140. The retest at $160, confirms the resumption of a downtrend as XRP fell to $120 low.

In the last two weeks, the bears bravely overwhelmed the bulls as the price dropped from $0.23 to $0.17. Sellers have been consistent in the downward move. Firstly, the bulls were repelled at $0.23.and the coin retraced to $0.21500. A retest at $0.22 pushes the coin down to the low of $0.20. After fluctuation between $0.20 and $0.23, the downtrend resumed and the $0.20 low was breached.

Desperately, the bulls put up a fight and defended the $0.18 low and pushed the price upward. The $0.18 low is an oversold region of the market which invited the bulls to take control of price. Ripple plunged to this low as a result of the inability of buyers to defend the $0.22 price level. The upward correction is facing resistance at $0.20. This was the previous support which has turned to resistance.