After struggling for the past several days, the Bitcoin price has settled above $19,000 after it was recently rejected from $19,500 again. XRP price is getting ready to dump some more.
Meanwhile, major altcoins are showing bearish signals, including ethereum, LINK and other.
At the time of writing, XRP is trading at $0.495250 with a minor loss. Ripple is currently holding a market cap value of $22,591,760,111 with $7,537,797,799 trading volume.
XRP price seems to downtrend some more before a significant bullish price action comes into the picture.
In the month of December, the support at $0.475 has been tested twice. The increasing in selling pressure has smashed all attempts for recovery. Thus it seems that XRP price can barely hold above $0.50
looking ahead, If XRP closes the day under $0.5, it will be forced to seek refuge at the 200 SMA. In the event losses continue, the next tentative anchor zones are $0.475, $0.45, and $0.4.
On the contrary, if Ripple reclaimed the support at $0.52 then the upward price action might come into picture. Trading past $0.54 will call for more buy orders, restoring the hope of exchanging hands above $0.6.
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