Sharp decline pushes XRP behind 0,200 zone
Ripple 0,20USDT (0.85%)
Ripple, which has had a very strong upward momentum in recent days, started the last business day of the week with a loss of about 3%. The reason we see a general decrease in crypto money markets is due to the sale of a reaction to sudden rises in previous days. With this negative wind in Ripple, it fell below the 0,200 USDT region. This sharp decline in XRP, which has yielded approximately 20% in the last 3 days, seems to have been affected by investors selling due to profit realization.
When analyzed technically, the rising trend that started on July 6 seems to be quite accelerated. The trading volume remains strong in the direction of sales, but the sudden withdrawal of prices also reveals the possibility of a new rally. However, in order for this rally to start, it will be an important factor to receive support from the rising trend and pass the 0,200 USDT resistance in volume. In the event of these situations, a performance reaching from 0,195 to 0,210 USDT can be seen. However, the rise in sales pressure and the downward trend of the trend may cancel these possibilities, but maintain the decline. Therefore, attention should be paid to the reaction of the trend region. When we look at the oscillators, we see that they are moving from overbought areas to their average neighborhoods, although this does not give a signal, it shows that the prices are more reasonable for new positions. As we mentioned above, it will be a more strategic move to be cautious for new positions and see the reaction of the trend zone.
XRP, 4-hour chart