Ripple on EXMO – XRP Price Analysis: Possible Support Break
Ripple is going to be a trading potion on the EXMO cryptocurrency platform while being paired with BTC, USD, RUB.
EXMO cryptocurrency platform has successfully expanded its number of trading instruments – Ripple (XRP) has been added to the listing. The deposit/withdrawal operations are already available in the “Finance” section. This was a continuation of the platform adding well-known cryptocurrecies, with ZCash being known for its anonymity which was integrated previously on EXMO.
When it comes to its price development, XRP against the US Dollar could very well retest the $0.1950 supporting level before making any move upwards. There is a spiking movement in both ways as the value struggles to move above the $0.2100 against the USD.
At the moment, the pair is just above the trend line support at $0.2030 and the 100 hourly SMA. Once there is a break and close below $0.2000, there can be a downside push towards $0.1950. An immediate support sits around the 50% Fib retracement level of the last wave from the $0.1880 low to $0.2093 high.
For the near term understanding, the most important support holding the price up is at $0.1950 and the 61.8% Fib Retracement level of the above mentioned increasing flow. However, if buyers are able to gain momentum over the $0.2100 mark, the pair XRP/USD could very well head for $0.2250.