The third-largest cryptocurrency by the market capitalization Ripple XRP price is also marking losses on the five-day charts.
At the time of writing, Coin Market Cap is reporting a gain of 0.86 percent in the past 24-hours, but on the five days chart, the cryptocurrency is looking to be at a loss of about 14 percent. This is one of the most intuitive movements for Ripple XRP as at the time of writing, not only Ripple XRP but Bitcoin are also stabilizing.
Ripple XRP price went as high as to $0.245 at one point in the week but then only to drop and get back to the $0.200 and briefly below that as well. The flash crash came on the 8th of March, and the losses are recorded to be about 14.4 percent.
Ripple XRP price movement: What to expect?
Trader and analyst on Trading View, MagicPoopCannon, believes that the cryptocurrency is in for a stroll further down the Ripple XRP price chart towards $0.15 or $016 range. However, so far, the theory has proved to be wrong and to traders’ relief.
Cannon based his analysis on a short term bearish head and shoulder pattern. However, the cryptocurrency didn’t fall out to be that bad. On the other hand, analyst DeGram believes that the Ripple XRP price has found strong support at the $0.200 level, and the price stands at $0.214 at the time of writing.
DeGram furthers that the cryptocurrency is facing strong resistance at the $0.2627 mark; however, an upward XRP price trajectory is also imminent. With the Bitcoin price now getting out of the stale movements and into the greens, the market is expected to be strong. Cautious trading is advised to stay secure.
Featured Image by Jason Briscoe
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.