Admittedly, Ripple is noting a very slow, minimal, and a bit disappointing price growth lately, as compared to Ethereum and Bitcoin. Notably, BTC has again reclaimed the $9200 price range while XRP is struggling to stay above $0.20.
Ethereum and Bitcoin, both the topmost crypto coins, have recovered by more than 4% over the last 24 hours. Causing the coins to trade above $198 and $9300, respectively. All in all, XRP appears to be lagging behind these two coins if we consider a short-term perspective.
The crypto market is gradually adapting to the damage control mode as it starts to witness a few stimulating price moves periodically. This is likely to infuse more liquidity in the space, gearing up the recovery.
Coming back to XRP, the coin had seen a sharp pullback just when it was approaching the middle of this month. The currency seems to be in a loop as it had a similar price move in the middle of April, while the infamous market crash of mid-March due to novel coronavirus pandemic still haunts the crypto believers.
XRP Predictions
Since when the XRP tested support level at $0.13, it has been forming a bullish trendline; the line may remain intact once it gains stability above $0.20. XRP may target the resistance level at $0.22, where it has just faced major turbulence this month.
XRP seems to be holding a support level at 50% fib level near $0.19. a full recovery can be estimated if the price reaches above $0.22; for now, the coin is still below the 61.80% fib level.
Ripple had managed a stupendous recovery within the last couple of months as it reached above $0.23, with an increase of 76%. The XRP price is about to climb the 200-day EMA while the MACD chart is in the bearish zone, though with its MACD line on the upside.
