Chances of Withdrawal Rising in XRP
Catching a beautiful major rising trend after its sharp fall in March, Ripple had fallen down this major trend and had reduced its momentum. With the BitMEX derivative exchange going offline, there was a sudden drop in all other cryptocurrencies along with BTC, which reflected in Ripple. XRP, which started to rise again from this point, could not break the $ 0.205 resistance and started to show weakness from this point. Stuck in the bottom of the Bollinger Bands with its fall in May, Ripple has been receiving support from the minor rising trend while moving in this band range for nearly 10 days. Ripple signaled a downward trend with the formation of doji candles before breaking the major trend downwards, and as of today, it has created a new doji. In XRP, which seems technically weak, this indicates that the probability of withdrawal increases.
On the other hand, XRP TipBot, an important social media component of XRP transfer, was liberated from the Netherlands' Anti-Money Laundering [AML] regulations with the latest partnership with Uphold, a cryptocurrency payment platform. Wietse Wind, the developer of TipBot, said on the May 14 blog:
“The Uphold team came to help me. To allow XRP TipBot to survive. And they did! ”
XRP is holding as strong as Bitcoin for now. It will be interesting to see how this situation is played.
Resistors: 0.205 / 0.210 / 0.222
Supports: 0,200 / 0,192 / 0,178
