The cryptocurrency market has remained almost unchanged since yesterday. The biggest loser in the top 10 list remains Tezos (XTZ). Its rate has declined by 5.21% in the past day.
Although the rate of XRP is going down against the US Dollar, its correlation with Ethereum (ETH) is completely different. The rate of XRP has even risen against the chief altcoin over the past 24 hours.
The relevant data for XRP is below.
Market Cap: $6 248 564 736
Volume (24h): $1 992 018 658
Change (24h): -3.02%
The data is relevant at press time.
XRP/USD: Any bullish efforts remaining against the bearish market?
Yesterday, buyers pierced the $0.150 resistance level, but this did not succeed in continuing the recovery of the XRP/USD pair. The Ripple price is located in a narrow lateral range above the hourly moving average EMA55.
If buyers can show a surge in activity and demonstrate a breakthrough, then the maximum is possible around $0.170. If there is not enough strength for this deceitful maneuver, then the price will simply roll back to the area of the annual minimum.
On the daily chart, the situation is becoming more vivid. XRP is stuck within a Falling Wedge pattern. According to technical analysis, such figures are usually bullish.
Moreover, the selling trading volume is dropping, meaning that bears are running out of efforts to push the rate below current levels. Summing up, the nearest scenario is a move to the $0.16 resistance zone.
XRP is trading at $0.1421 at press time.