Ripple price continues higher for the third consecutive trading session after the number three cryptocurrency managed to test during the weekend the 50-day moving average, which proves very solid support. The move today stalled at the 50-day moving average while as of writing has retreated back to $0.2053. XRPUSD looks trapped between the 50 and 100-day moving averages looking for a fresh catalyst for a breakout.
Ripple capitalization stands now at $9.06 billion while Tether has approached the number three cryptocurrency and threatens to surpass Ripple capitalization. As of writing Tether capitalization stands at $8.82 billion.
Bitcoin retreated back to the unchanged territory after a new rejection at the $10,000 mark. Litecoin is 3.71% higher at 445.37, while Ethereum is 2.50% higher at $212.21.
Ripple price is 1.86% higher at $0.2051 as the number three cryptocurrency regains the short term positive momentum above the 50-day moving average. The long term technical picture remains bearish, and only a credible close above the 100-day moving average might cancel it.
Looking north, immediate resistance for Ripple price will be met at $0.2080 the daily top; If XRPUSD remains bid above $0.2080, the next hurdle will be met at $0.2109 the 100-day moving average. A break above 0.2109 might open the way for a bigger move higher. Next resistance area to watch is at $0.2210 the 200-day SMA.
On the other side, the first support for Ripple stands at $0.2010 the daily low. The next strong support will be met at $0.1971 the 50-day moving average. If Ripple breaks below $0.1971 support level, XRPUSD price could correct further towards the $0.1924 the low from May 12.