Today Ripple cryptocurrency showed a sharp decline, its price fell by 5% in less than an hour. It is worth noting that the downward trend was observed not only in Ripple, because the entire market is in red. The price of Bitcoin, for example, has dropped to $ 6,334. In turn, the price of Ethereum, after several weeks of consolidation, fell below $ 200.
Ripple is now trading at a price of $ 0.446. At the same time, the growth potential is limited by the downward trend line. The price of a cryptocurrency is fixed between the support of the moving average and the resistance.
In the short term, a breakthrough over the contract triangle is possible, but first, buyers must eliminate the 50 SMA resistance on the 15-minute chart. Creating support above $ 0.45 will open the way for price growth to the level of $ 0.46 and ultimately – $ 0.50.
And what do you think about this?
