Ripple

XRP Trades at $1.14 – Will This Crypto Go Under Its Support Level?

California, USA – XRP decreased by 8% in the previous 24 hours, and the price trades at $1.14. It has been in an ascending trend since the beginning of August but it struggled to move past the resistance at $1.28. On another note, the due for the fact discovery may not follow the set date by the Judge.

The price of XRP dropped by 8% in the past 24 hours. From $1.25, the price went down to $1.14 after it fell from its ascending channel since the beginning of this month. It struggled to hit past the resistance level, which is at $1.28 in the past week.

The reversal in the performance of XRP today triggered it to move under the ascending trend. It moved to $1.10, and now, the daily candle ends under the price channel. The drop might signal a bigger short-term downtrend.

The XRP/USD’s first support lies at $1.10 if the seller pushes lower. The price is followed by $1.00, $0.93, and $0.85. On the other hand, the first resistance lies at $1.25, where it followed the prices of $1.28, $1.36, and $1.40. The RSI or Relative Strength Index is going down. It indicated the past bullish moment from the previous month. On the other hand, the price is still not at the midline, and the bears are out of control of the market’s moment.

XRP Trades at 1.14 Will This Crypto Go Under Its Support Level
XRP drops to $1.14, and it struggles to move past the $1.28-resistance level
XRP/BTC also dropped in search of the support at a retracement level of .382 Fib retracement level. This pair struggled to break its resistance level of 2670 SAT. It’s also heading under, dropping under 2600 SAT. The daily closing candle is under the .382 Fib support would display the first lower-low, which would display a short-term downtrend establishing for XRP.

On another note, the deadline for the fact discovery might extend. Initially, the Judge set the date on August 31. Ripple’s motion requests SEC to do depositions by the due date, where the expert discovery deadline is from October 15, 2021, to November 12, 2021.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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