XRP looks ready for a monthly close in the red, extending a decline that kicked off in January 2018. The token has marked lower highs and lower lows for over 900 consecutive days. With XRP up 0.58% at
XRP looks ready for a monthly close in the red, extending a decline that kicked off in January 2018. The token has marked lower highs and lower lows for over 900 consecutive days. With XRP up 0.58% at press time, the weekend's lows could see another test before June closes.
Saturday brought a 4% selloff that pushed XRP to its lowest price since March 13. Even after a 50% climb from Q1 lows around $0.15, the token ranks among crypto's worst performers of 2020. When Bitcoin and other major cryptocurrencies bounced back in late April, XRP reached $0.24 and looked like it might sustain a recovery. That momentum didn't last. XRP's all-time high came on January 4, 2018, at $3.84. From there, the losses compound: the token now trades nearly 95% below that peak.
The chart shows XRP breaking below a descending triangle pattern. Support arrives at $0.175, the 50% Fibonacci retracement level. If that gives way, $0.171 and then $0.157 (61.8% retracement) offer the next floors.
For upside, XRP bulls need to clear $0.185 and $0.19, where the 20-day moving average aligns with the 38.2% Fibonacci level. Pushing above that unlocks $0.20, the 100-day EMA, a psychological barrier. Getting past $0.20 would aim the token back toward April's $0.24 high.
Daily prices show weakness across the board. XRP trades below all major moving averages with the RSI sliding downward. Sellers dominate the market. The 900-day pattern of lower highs and lower lows continues, likely bringing another test of $0.15 lows before buying interest returns.
XRP has a market cap of $7.86 billion.
