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XRPUSD - Rallies to Key $0.40 Level as Doubts Linger

 

 
Ripple has rallied well in the last few days to retain touch of the key $0.40 level after dropping sharply for several weeks down to its lowest level in two months around 0.32. After moving very little throughout most of October, Ripple enjoyed a surge higher moving to its highest levels in five weeks and moving above the key 0.50 level to above 0.55. Technically any buyers will be keen for XRPUSD to return to back above the 0.40 level as it is presently feeling resistance at that level which may prevent it moving too much higher. For several weeks during October Ripple was able to take a deep breath and enjoy some subdued movement after a wild and volatile ride throughout the second half of September.
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XRPUSD - Surges to Five Week High as Ripple Expands

 

 
After doing nothing for several weeks, Ripple has finally enjoyed a surge higher moving to its highest levels in five weeks and moving above the key 0.50 level. For several weeks Ripple had been able to take a deep breath and enjoy some subdued movement after a wild and volatile ride throughout the second half of September. In this time it has been content to trade right around the 0.45 level after the rollercoaster ride which saw it surge higher from near 2018 lows around 0.25 to its highest levels since May above 0.75. As quickly as it reached 0.75, it fell just as sharply and returned to levels below 0.50 where it has remained since last week. The two key levels presently are 0.40 and 0.50.
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XRPUSD - Consolidates around 0.45 as Volatility Decreases

 

 
In the last couple of weeks Ripple has been able to take a deep breath and enjoy some subdued movement after a wild and volatile ride last month. In this time it has been content to trade right around the 0.45 level however only last month Ripple experienced a rollercoaster ride as it surged higher from near 2018 lows around 0.25 to its highest levels since May above 0.75. As quickly as it reached 0.75, it fell just as sharply and returned to levels below 0.50 where it has remained since. The two key levels presently are 0.40 and 0.50.
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XRPUSD - Consolidates around 0.50 after Surge to Four Month High

 

 

Ripple has experienced a roller-coaster ride in the last few weeks as it has surged higher from near 2018 lows around 0.25 to its highest levels since May above 0.75. As quickly as it reached 0.75, it fell just as sharply and returned to levels below 0.50 before rallying a little higher again in the last day or so. This has resulted in Ripple currently trading around the key 0.50 level after its volatility explosion. It was back in August that Ripple dropped sharply through any support around $0.43 and $0.40 and fell to its lowest level this year below $0.25. For the following month Ripple seemed to content to trade around 0.30 before its recent explosion.

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XRPUSD - Drops Sharply Through Support to Below $0.25

 

 
Ripple has experienced a terrible last couple of weeks as it has dropped through any support around $0.43 and $0.40 and fallen to its lowest level this year below $0.25, although it has recovered a little in the last couple of days. One can only speculate on how low it will drop and whether it eventually reverses, when the drop has been so sudden. Prior to this drop it had done a reasonable job for around a month or so to consolidate and benefit from much needed support around $0.43.
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XRPUSD - Consolidates Above Much Needed Support Around $0.43

 

 
The last couple of months or so has not been good for Ripple as the cryptocurrency has continued to decline strongly, although it has done well in the last month or so to consolidate and benefit from much needed support around $0.43. Throughout May and June XRPUSD fell strongly losing more than 50% of its value in that short period, from the peak near $0.95 in late April to its recent trading levels below $0.43 recently. A couple of weeks ago it rallied well to reach a one month high above $0.52 however the gains have been far and few between.
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XRPUSD - Rallies Off Support Around $0.40 Again

 

 
The last couple of months or so has not been good for Ripple as the cryptocurrency has continued to decline strongly. For the two months XRPUSD has fallen strongly losing more than 50% of its value in that short period, from the peak near $0.95 in late April to its recent trading levels below $0.43 a week ago. It has rallied a little in the last week reaching a two week high back above $0.50 however is clearly in a solid medium term down trend.
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