XRP was created by Ripple to be a speedy, less costly and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT. The live XRP price today is $0.882441 USD with a 24-hour trading volume of $3,036,923,816 USD. XRP is up 5.62% in the last 24 hours.
XRP/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 0.93 USD. The next support located at 0.82 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 0.76 USD. Below this support, sellers could then target 0.69 USD.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
The XRP Upside;
XRP price would need to begin with a daily close above $1 and the 200 twelve-hour SMA at $1.013 before engaging a bullish outlook. A bullish view would be confirmed by a daily close above the 38.2% retracement at $1.145. It would be approximately 35% gain from the current price, but investors should be patient without entries near definitive support.
