The heavy downfall faced by ripple after touching the resistance area of $0.23 is coming to end
The fundamental support was also provided by the community at the same time.
From the starting of April, Ripple XRP price was enjoying pricing growth due to the significant bullish momentum in the market. It crossed the major hurdle of $0.20 without any hesitation and reached its critical resistance area of $0.25. Due to which it started facing a heavy downfall which resulted in significant price pullback. It touched the major support level of $0.19 and currently held upon it.
For this month, the XRP bull is kind of consolidated between the range of $0.19 to $0.23. Therefore, the coin hasn’t been able to make any significant move in the market. If the downtrend continues and the price level break below $0.17, it may lead to heavy price damage for XRP. On the other side, if the bulls make a comeback, they need to cross the major resistance level of $0.23 to sustain a bullish momentum in the market.
The XRP Price Analysis technical chart reflects on the bullish momentum build by Ripple from the starting of February which is later followed by the downtrend line. XRP touched its year-high of $0.35 during its bullish momentum and currently is at the support level of $0.19 due to the downtrend.
The technical indicators and oscillators suggest that the support level of $0.19 will provide XRP the needed boost. MACD levels are reaching the bullish zone which is a positive sign. RSI is also reaching a level of 50 in the graph and showing positive nature. CCI is also in the normal region but close to the oversold zone with positive nature.
Resistance level: $0.23 and $0.25
Support level: $0.19 and $0.17