Ripple Price Rebounds But Sentiment Remains Fragile

Ripple price XRPUSD
Ripple XRPUSD

Ripple price attempts to rebound today as the global sell-off continue. XRPUSD hit 33-month as investors liquidate their positions to raise cash and limit exposure to risky assets. Ripple has lost over 50% of its value in the last month and has turned negative for 2020, giving up 22.82% since the beginning of the year.
The XRPUSD capitalization has dropped now at 6.45 billion with a trading volume reaching 2.55 billion in the last 24 hours. BTCUSD is 4.66% higher at $5267, LTCUSD is 4.11% higher at $34.58 while ETHUSD is 4.90% higher at $116.49.
Volatility will be the central theme in the upcoming trading sessions as the impact of coronavirus fear will continue to drive markets.

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Ripple Price Analysis

Ripple price is 4.62% higher at 0.1475 as buyers attempting to recover some of yesterday’s loses. The number three cryptocurrency is in a bearish mood after the price breached below the 100-day moving average. The technical picture is clearly bearish for XRPUSD and a move to previous week lows can’t be ruled out. 

On the upside, initial resistance for Ripple stands at $0.1529 the daily top; If Ripple breaks above, the next hurdle stands at $0.1644 the high from March 15th trading session. The next level to watch is at 0.1721 the high from March 13th. 

On the other side, the first support for Ripple stands at $0.1398 today’s low. Next support zone for the Ripple will be met at $0.1273 the low from yesterday’s trading session. The 33-month lows at 0.1139 will provide the next support area. 

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