Ripple is one of the most popular digital payment network and cryptocurrency. Their coin for the cryptocurrency is called XRP.
Throughout the years, Ripple has a positive reputation to the public. However, they have also struggled in the past few months. This situation is the reason why their supporters are starting to doubt their platform.
The price sustained stopped under $0.2900 and fell to $0.2765 in a matter of minutes. Even though the price has partly recovered trade losses at $0.2882, it is still higher than 7% lower from the beginning of the day.
According to experts, a price below $0.2900 is considered as a strong bearish signal.
However, some people still choose Ripple since it has faster transactions compared to its competitor. This is Ripple’s major selling point.
This limit restricted the drop-in prices since the end of October; nevertheless, now that it is out of the track, the sell-off may continue with the first goal at $0.2780 (a combination of SMA100 and SMA50 (Simple Moving Average) daily, the center section of the Bollinger Band daily).
On the downside, people will need to see a sustained jump above $0.2900 as early as possible to counteract the current bearish situation and enhance the conceptual scenario.