Although XRP has tried to resist the ongoing cryptocurrency market decline for a long time, it is also located in the red zone. The decline over the last week has amounted to almost 35%, which is much less than Bitcoin (BTC) and Ethereum (ETH), which have lost 42% and 47% respectively.
On the other hand, the XRP rate has risen against Bitcoin (BTC). As one can notice, the growth has been significant over the past week.
Relevant data for XRP is below.
Market Cap: $5 926 373 985
Volume (24h): $2 352 933 430
Change (24h): -14.11%
The data is relevant at press time.
XRP/USD: Trying to resist the falling market
XRP is showing one of the best price dynamics against the falling market. Its rate has declined by 14% over the past 24 hours, which is a much smaller drop than most of the other coins from the top 10 list have experienced.
On the 4H chart, XRP failed to stay above $0.16, having confirmed the absence of buyers even in the short-term. The MACD indicator is moving downward and the ongoing decline is accompanied by rising selling volume. Summing up, the short term price forecast is a decline to $0.12.
On the bigger time frame, the situation is even worse. There is no liquidity at current levels, meaning that the bearish trend may last a long time.
In this regard, the next support zone is located around the $0.10 level. The daily MACD is also red without any signals of a potential reversal.
XRP is trading at $0.13 at press time.