XRP’s current prices are making investors lose their sleep. The altcoin has consolidated around 50 Exponential Moving Average (EMA) support levels of $0.52.
XRP prices have made investors loose their sleep. The altcoin is on the cusp of potential decline. The altcoin’s prices stand at the support level of $0.52, with the Exponential Moving Average (EMA) being 50. Any further downfall in prices will send this coin to the $0.5 threshold or even lower. This will be a devastating price loss to the altcoin.
XRP Price: Charts Depict Decline
According to CoinMarketCap XRP maintains a position above 50 EMA but is struggling against 100 EMA and 200 EMA as seen below:
The altcoin movements indicate low trading volumes implying a period of uncertainty. The altcoin can be in big trouble in the coming days if it can’t hold above the 50-day moving average (around $0.5 right now).
Crypto market behavior in the next few days is crucial for the altcoin to stop its fall. The Mt. Gox payout of a $5 Billion BTC transfer is one such example where XRP prices could not become sustainable.
What’s the Way Out?
The altcoin needs to stay above the 50-day average, around $0.50 to bounce back. Unfortunately, the altcoin is not an attractive investment now.
Investors are watching the prices of the altcoin with bated breaths, still unclear whether to buy or sell this cryptocurrency.
The volatile nature of crypto markets is not nothing new. Investors should do their own research before buying or selling any crypto coins.
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