Ripple price GBP rebounded off the £0.53566 support on June 8 but the bulls are struggling to push the xrp to gbp price above the 20-day EMA. This suggests that demand dries up at higher levels.

The downsloping moving averages and the RSI in the negative territory indicate an advantage to the bears. If the xrp price gbp turns down from the current levels, the bears will make one more attempt to break the £0.53566 support.

Ripple Price GBP Main

XRP TO GBP

Ripple price GBP – HOW TO TRADE XRP/GBP 15TH JUNE 2021 - UPDATED CONTENT

 

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ripple price GBP chart

Ripple Price GBP Chart

If they succeed, the XRP/GBP pair will complete a descending triangle pattern that may result in a xrp price gbp drop to the support line of the descending channel near £0.30.

On the contrary, if the bulls push the ripple to gbp price above the 20-day EMA, the pair may rally to the 50-day SMA. This level may again act as a stiff resistance.

However, if the bulls defend the 20-day EMA during the next dip, it will suggest that bulls are making a strong comeback. A breakout and close above the resistance line of the channel will suggest that the downtrend is over.

We do not find any reliable buy setup at the current level, hence, we are not recommending any trades in it.

 

Ripple price GBP – HOW TO TRADE XRP/GBP 8TH JUNE 2021

 

 

Ripple price GBP turned down from the 20-day EMA on June 4, suggesting the sentiment remains negative and traders are selling on rallies to this resistance.

The XRP/GBP pair could drop to £0.53566, which is likely to act as strong support.

However, a break below this level could clear the path for a further fall to £0.46167 and then to the support line of the descending channel.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ripple price gbp chart

Ripple Price GBP Chart2

The ripple price gbp downsloping moving averages and the RSI in the negative territory indicate the bears are in command.

Contrary to this assumption, if the price rebounds off £0.53566, the bulls will again try to push the pair above the 20-day EMA. If they succeed, the pair could rise to £0.77421.

We do not find any reliable buy setup at the current level, hence, we suggest traders remain on the sidelines. We will wait for the price to break and sustain above the 20-day EMA for three days before turning positive.

 

 

Ripple price GBP – HOW TO TRADE XRP/GBP 1ST JUNE 2021

 

Ripple price GBP is trading inside a descending channel. The bulls are attempting to stage a recovery but are facing resistance at the 20-day EMA.

If the bulls push the price above the 20-day EMA, the XRP to GBP pair could rally to the 50-day SMA, which is likely to act as a stiff resistance. The bulls will have to push the price above the resistance line of the channel to signal a change in trend.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

Contrary to this assumption, if the Ripple Price GBP turns down from the current level, the bears will try to pull the price below £0.53566. If they succeed, the pair could drop to the support line of the channel.

The price action is likely to remain volatile for the next few days. As the pair has been a huge underperformer, we will wait for a reliable buy setup to form before recommending a trade in it.

Ripple price GBP – HOW TO TRADE XRP/GBP 25TH MAY 2021

 

Ripple price GBP we had suggested traders buy on a breakout and close above the triangle but the trade did not trigger because XRP to GBP could not close above the triangle on May 18. However, this breakout above the triangle could have trapped the aggressive bulls.

The selling intensified on May 19 and the XRP to GBP pair plunged below the triangle to hit an intraday low of £0.5828. The bulls tried to stage a recovery on May 20 but could not push the Ripple price GBP price back into the triangle.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

Ripple Price GBP Chart

As a result, the Ripple price GBP pair turned down and declined to £0.46167 on May 23. The downsloping 20-day EMA and the RSI in the negative territory suggest the bears are in control.

The current relief rally is likely to face stiff resistance at the 20-day EMA. A reversal from this resistance could pull the Ripple price GBP pair down to £0.60 and then £0.46167. We do not find any reliable setup at the current levels, hence we are not suggesting a trade in it.

 

Ripple price GBP – HOW TO TRADE XRP/GBP 18TH MAY 2021

 

XRP price GBP bulls successfully defended the 50-day SMA support on May 13, indicating buying at lower levels. XRP is currently trading inside a symmetrical triangle, which usually represents a continuation pattern.

If the bulls can drive and close the price above the resistance line of the triangle, the XRP to GBP pair could rally to £1.43191. A breakout and close above this resistance could start the next leg of the uptrend, which could reach £1.95.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

Ripple Price GBP Chart

On the contrary, if the XRP to GBP price turns down from the resistance line, the XRP to GBP pair may remain range-bound inside the triangle for a few more days. A break and close below the triangle could attract selling. That could result in a decline to £0.70 and then £0.60.

Traders may buy on a breakout and close above the triangle. This is a risky trade as the overall sentiment in the crypto sector is bearish. Hence, keep the position size less than 50% of usual and the stops tight. Keep trailing the stops higher if the XRP to GBP price moves northward to limit the risk.

 

Ripple price GBP – HOW TO TRADE XRP/GBP 11TH MAY 2021

 

XRP price GBP broke above £1.21368 on May 6 but the bulls could not sustain the higher levels as seen from the long wick on the day’s candlestick. We had anticipated such a bull trap, hence we had not recommended any long positions in the previous analysis.

The xrp to gbp pair plunged below the 20-day EMA on May 10, suggesting a change in the short-term sentiment. Although the bulls defended the 50-day SMA on May 10, the relief rally is likely to face stiff resistance at the 20-day EMA.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

Ripple Price GBP Chart

If that happens, the xrp to gbp pair may remain stuck between the moving averages for a few days. A break below the 50-day SMA will signal weakness and that could pull the price down to £0.68519 and then to  £0.6050.

This negative view will invalidate if the xrp to gbp price turns up and breaks above £1.2729. Such a move could open the doors for a rally to £1.43191.

 

Ripple price GBP – HOW TO TRADE XRP/GBP 4TH MAY 2021

 

XRP price GBP had said in our previous analysis that the relief rally in XRP may face stiff resistance at the 61.8% Fibonacci retracement level at £1.11603 and that is what happened.

The bulls pushed the price above £1.11603 on April 30 but they could not sustain the higher levels. Profit-booking has dragged the price down to the 20-day EMA.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

Ripple Price GBP Chart

If the bears sink the XRP to GBP price below the 20-day EMA, the XRP/GBP pair could drop to £0.90 and then to the 50-day SMA. Such a move will suggest the bullish momentum has weakened and that may keep the pair range-bound for a few days.

Conversely, if the price rebounds off the 20-day EMA with strength and rises above £1.21368, the pair may retest the 52-week high at £1.43191. However, due to the negative sentiment in the sector, we are not recommending a trade in it.

 

Ripple price GBP – HOW TO TRADE XRP/GBP 27TH APRIL 2021

Ripple price GBP plunged to the 50-day SMA on April 23 but the long tail on the day’s candlestick suggested the bulls purchased this dip aggressively.

The failure of the bears to break the 50-day SMA support could have attracted dip buyers who pushed the price back above the 20-day EMA on April 26.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

The rebound in the Ripple price GBP pair is likely to hit a wall at the 61.8% Fibonacci retracement level at £1.11603. If the price turns down from this level but rises off the 20-day EMA, it will suggest that traders are buying on dips. That may increase the possibility of a further rally to £1.25495 and to £1.43191.

On the other hand, if the price turns down from the current level and dips below the 20-day EMA, it will indicate that traders are selling on rallies. That could pull the price down to the 50-day SMA. Due to the uncertainty, we are not recommending any trade in it.

Ripple price GBP – HOW TO TRADE XRP/GBP 20TH APRIL 2021

We recommended Ripple price GBP traders to book profits at £1.12 in our previous analysis as we anticipated a correction or consolidation. Although XRP rose to a high of £1.43191 on April 14, the bulls could not sustain the higher levels.

Profit-booking started a correction from April 15 and the GBP XRP pair plunged to the 20-day EMA on April 18. Traders defended the 20-day EMA but have not been able to sustain the prices at higher levels.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

That led to further selling and the price has again dropped back to the 20-day EMA. If the GBP XRP pair doesn’t rebound off the 20-day EMA with strength, it will suggest that traders are not buying the dips. That may result in a further decline to £0.80.

Alternatively, if the pair rebounds off the 20-day EMA, a move to £1.15 is possible where the bears are likely to step in. A breakout of £1.15 will signal that the bulls are back in command.

Ripple price gbp – HOW TO TRADE XRP/GBP 13TH APRIL 2021

Ripple price gbp did not crack the £0.588 support and continued its upward march after a minor consolidation between April 7 to 9.

The rally easily overtook the projected target objective of £0.824 and has surged to an intraday high of £1.28 today.

However, the sharp rally of the past few days has pushed the RSI to 81 levels. This suggests the XRP/GBP pair is overbought in the short term and could enter a correction or consolidation.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

The long wick on today’s candlestick shows profit-booking at higher levels. Traders can close 80% of their positions at the current levels and keep the remaining with a trailing stop-loss.

We suggest booking profits on the majority of the position because strong uptrends tend to correct sharply. When that happens, the paper profits can evaporate quickly. Therefore, traders should book profits when the rally looks overextended.

A break below £0.95 could attract aggressive selling and pull the XRP GBP price down to the 20-day EMA.

Ripple price GBP – HOW TO TRADE XRP/GBP 6TH APRIL 2021

Ripple price GBP soared above £0.48718 and £0.58847 on April 5 with a 41.54% rally for the day. Traders who had bought GBP XRP on our earlier recommendation have made huge gains within the past few days.

The bears tried to pull the price below £0.58847 today but the long wick on the day’s candlestick suggests that the sentiment has turned bullish and traders are buying the dips.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE xrp to gbp chart

If the bulls can drive the Ripple price GBP above £0.68, the XRP/GBP pair could rally to the next target objective at £0.824.

However, traders should not get greedy. They must trail their stops to protect their paper profits because if the Ripple price GBP breaks below £0.588, the correction could deepen to £0.48718.

A break below this support will suggest that traders dumped their positions at higher levels and that could keep the pair range-bound for a few more days.

Ripple price GBP – HOW TO TRADE XRP/GBP 30TH MARCH 2021

Ripple price gbp plunged on March 24 and broke below the moving averages. However, the positive sign was that the bulls did not allow the price to sustain the lower levels. They quickly bought the dip and pushed the price back above the moving averages on March 25.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE Ripple price gbp

Xrp price GBP_Chart

The Ripple price gbp bulls will now try to drive the XRP GBP price above the minor resistance at £0.43561. If they succeed, the Ripple price gbp pair could rally to £0.48718. This level may act as a stiff resistance, hence traders may book partial profits near this level.

We are not suggesting to book profits on the entire position because if the bulls can thrust the price above £0.48718, the pair could pick up momentum. The upsloping moving averages and the RSI in the positive territory indicate advantage to the bulls.

This positive view will invalidate if the bears sink and sustain the price below £0.35. For now, traders can keep their stop-loss at £0.30. The stops may be trailed higher after the bulls push the price above £0.43561.

Ripple price GBP – HOW TO TRADE XRP/GBP 23RD MARCH 2021

Xrp price GBP broke above the £0.355 overhead resistance on March 20, triggering the buy recommendation given in an earlier analysis. Both moving averages are sloping up and the RSI has risen close to the overbought territory, suggesting that the bears are attempting to make a comeback.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

However, the long wick on March 22 and today’s candlestick suggests bears are selling on rallies. This could pull the price down to the breakout level at £0.355. If the price rebounds off this support, the bulls will again try to resume the up-move.

The first target objective on the upside is £0.48718 and then £0.58847. Traders may trail their stop-loss to £0.30 and raise the stops further after a successful retest of £0.355. Partial profits could be booked at £0.48718 and the rest of the positions can be trailed with a suitable stop-loss.

Ripple price GBP – HOW TO TRADE XRP/GBP 16TH MARCH 2021

The XRP price GBP turned down from the overhead resistance on March 10 and slipped below the 20-day EMA. The selling continued and dragged the price below the 50-day SMA on March 12. This suggests bears are aggressively defending the higher levels.

The price could now remain range-bound between £0.27916 to £0.355 for a few more days. The flat moving averages and the RSI near the midpoint also point to a possible consolidation.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

However, if the bulls can drive the price above £0.355, the XRP/GBP pair is likely to pick up momentum and start its journey towards £0.48718. Therefore, we retain the buy trade proposed in the previous analysis.

This bullish view will invalidate if the pair turns down from the current levels or the overhead resistance and breaks below the £0.27916 support. Such a move could start a downtrend that may reach £0.15.

Ripple price gbp – HOW TO TRADE XRP/GBP 9TH MARCH 2021

Ripple price gbp has been trading near the £0.355 overhead resistance for the past few days. When the price trades in a tight range near a resistance, the possibility of a break above it increases.

If the bulls can push and sustain the Xrp price GBP above £0.355, the Ripple price gbp pair could rally to £0.40 and then to £0.48718.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

On the contrary, if the Ripple price gbp price turns down from the current level and dips below the moving averages, it may extend its stay inside the £0.27916 to £0.355 range for a few more days.

The flat moving averages and the RSI just above the midpoint also suggest a balance between supply and demand.

However, in a bull phase, there comes a period when most under-performers start to move up. To capitalise on any such opportunity, traders may buy if the Ripple price gbp sustains above £0.355 for a few hours. The initial stop-loss may be kept at £0.25, which can be trailed higher as the price moves northward.

Ripple price GBP – HOW TO TRADE XRP/GBP 2ND MARCH 2021

XRP price dropped to £0.252, just below the £0.27916 support as suggested in our previous analysis.  The price has since then been trading between both the moving averages that have flattened out. The RSI just below the 50 level also does not suggest an advantage either to the bulls or the bears.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

This could keep the XRP price range-bound between £0.27916 and £0.355 for a few more days. A breakout of this range could open the doors for a rally to £0.48718 while a break and close below £0.25 could start a deeper correction.

The altcoin has been a huge underperformer during the current bull run, therefore, we are not suggesting a long position at the current levels. However, during a bull phase, almost all coins go through their own bull trends.

Therefore, if the XRP price GBP sustains above £0.3550 for a few hours, traders may consider initiating long positions with an initial stop-loss below £0.25. The stops may be trailed higher as the price moves northward.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 23RD FEBRUARY 2021

XRP price GBP continues to be range-bound between £0.3550 and £0.48718. The altcoin outperformed and rallied on February 22 when most major altcoins were deep in the red.

However, the bulls could not push the price above the overhead resistance at £0.48718 and that attracted profit-booking from short-term traders. By the end of the day, the XRP price GBP had given up a large part of its gains.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

Today, the bears are trying to sink the XRP price GBP below £0.3550. If they manage to do that, the XRP price GBP could drop to the next support at £0.27916.

On the other hand, if the bulls defend the £0.3550 support, the pair could extend its stay inside the range for a few more days. A breakout of £0.48718 will signal an advantage to the bulls and that may result in a rally to £0.58847.

However, as the sentiment in the crypto sector is currently negative, we are not recommending any long position in it.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 16TH FEBRUARY 2021

XRP price GBP rallied above £0.355 on February 10 and that triggered the long trade suggested in the previous analysis. The target objective of this trade at £0.45 was achieved on February 13, a quick 26% profit within four days. The XRP/GBP pair witnessed profit-booking near the overhead resistance at £0.48718 and that pulled the price down to the 20-day EMA. The long tail on the February 15 candlestick suggests that the bulls purchased the dip to the 20-day EMA.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

If the bulls can thrust the XRP price GBP above £0.48718, the pair could rally to £0.58847. Conversely, if the pair turns down from £0.48718, then a few days of range-bound action is possible.

The upsloping 20-day EMA and the RSI in the positive territory suggest that bulls are in control. However, as the altcoin has been a huge underperformer during the current bull run, we are not suggesting a trade in it.

We will wait for the price to sustain above £0.48718 before recommending a long position.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 9TH FEBRUARY 2021

The XRP Price GBP bulls defended the moving averages on February 2 and pushed the price above £0.27916 on February 3. Since then, XRP has been trading between £0.355 and £0.27916. If the bulls can push and sustain the price above £0.355, the XRP/GBP pair could rally to £0.40 and then to £0.45. Traders could buy if the price breaks and sustains above £0.355 for a few hours. The stop-loss for this trade could be kept just below £0.279.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

The upsloping 20-day EMA and the RSI above 63 suggest bulls are attempting to make a comeback.

Contrary to this assumption, if the XRP Price GBP turns down from £0.355, the price may correct to £0.27916 and stay range-bound between these two levels for a few days. A break and close below £0.27916 could pull the price down to the 50-day SMA.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 2ND FEBRUARY 2021

XRP price GBP Traders who held on to half of their position purchased on our recommendation in an earlier analysis could have made a profit of more than 100% within a short time if they had kept a trailing stop-loss. The move even surprised us but that is how one makes profits in the crypto markets, by taking the trade with a calculated risk and then getting off using a trailing stop-loss.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP

Xrp price GBP_Chart

XRP price GBP surged on January 30 and broke above the £0.27916 resistance. The bears attempted to pull the XRP price GBP down on January 31 but the bulls flipped the £0.27916 level to support.

The XRP price GBP pair soared to £0.55186 on February 1, but the bears aggressively sold the rally, dragging the price below £0.27916. This shows traders are selling on rallies.

The bulls are currently attempting to defend the moving averages and push the price back above £0.27916. After the sharp volatility of the past few days, we expect the pair to trade in a range for a few days before making its next move.

We do not find any reliable setups at the current level, hence we are not proposing a trade in it.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 26TH JANUARY 2021

 

XRP price GBP traders who purchased on our recommendation given in the previous analysis are at a marginal loss. They can close half of the position at the current levels and keep the rest with a stop-loss below £0.15.

The bulls pushed the price above the 20-day EMA on January 19 but could not sustain the higher level.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP price GBP

XRP price GBP shows traders are selling on every minor rally. The price has been trading below the 20-day EMA for the past few days, which shows a lack of interest among the bulls to buy at these levels.

XRP price GBP could now gradually drop to £0.15, which is a critical support to watch out for. If this support breaks down, the XRP/GBP pair could drop to £0.12899. A break below this support could resume the downtrend.

The downsloping moving averages and the RSI in the negative zone suggest bears have the upper hand.

Contrary to this assumption, if the price turns up from the current levels and rises above the 20-day EMA, the pair could rise to £0.24211 and then to £0.27916.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 19TH JANUARY 2021

XRP price GBP has been on a bumpy ride as of late with another tier-one exchange Kraken to delist XRP.

As it has been widely reported a recent lawsuit having been filed by the US Securities and Exchange Commission, against XRP custodian Ripple, it’s CEO Brad Garlinghouse and President Chris Larsen.

The SEC claims the sale of XRP amounted to a violation of federal securities law.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP

Traders hate uncertainty and that is one of the main reasons why XRP has been languishing near its yearly lows when most major cryptocurrencies are trading near their 52-week highs.

The XRP/GBP pair had been trading below the 20-day EMA for the past few days but the bears were not able to pull the price down to the £0.15 support. This shows that traders are not aggressively selling near the lows.

If the bulls can sustain the price above the 20-day EMA, the pair could rise to £0.30. Traders can consider buying at the current levels with a stop-loss at £0.14. However, as this is a low conviction trade, keep the position size about 50% of usual.

If the bulls can push the price above £0.30 and the 50-day SMA, the pair could pick up momentum and rally to £0.45.

This positive view will invalidate if the pair turns down from the current levels and plummets below £0.15. Such a move could resume the downtrend, with the next target objective at £0.10.

XRP PRICE GBP – HOW TO TRADE XRP/GBP 12TH JANUARY 2021

 

When trading Xrp price GBP and any crypto and fiat currency pair, traders must have a thorough understanding of both currencies. One such commonly traded crypto and fiat currencies are the XRP/GBP pair.

As the leading and widely traded cryptocurrency, XRP (Ripple) plays a pivotal role in facilitating cross-border transactions. The crypto is traded on many exchanges, but if you don’t have sufficient experience of trading XRP against GBP, then things can go wrong for you.

In this article, learn more about XRP Price GBP currency and how to trade the XRP/GBP pair.

what to understand about trading this pair

As far as Xrp price GBP trading pair is concerned, it pairs XRP, Ripple’s native token, with UK’s fiat currency Sterling or GBP. XRP happens to be the 3rd largest crypto asset by market cap, whereas GBP is the 4th most traded global fiat currency. But XRP, when viewed in terms of the wider crypto market, is way more volatile in comparison to the GBP. Ripple (XRP) is essentially a platform that runs on blockchain technology and has three main pillars, including a currency, payment settlement, as well as exchange for digital assets.

Cryptocurrencies like XRP still record an average price movement of 4-8% daily. On the other hand, major traditional currencies, like the GBP, experience average volatility of around 0.4% daily. Thus, trading the XRP/GBP pair is more related to the swing in the price of the XRP than GBP.

Trading xrp and GBP

Like many other leading crypto assets, Ripple offers excellent money-making opportunities. The crypto is traded in over 100 markets as well as financial exchanges worldwide. However, before trading XRP, you must learn more about cryptocurrency. Once you have garnered much information about what impacts the price of XRP, you need to create a trading account on a reputed crypto/fiat exchange to be able to buy and sell XRP and GBP.

Also, note that trading crypto with fiat currency is much different when compared to trading fiat currencies. There is a major difference in the volatility of the crypto market, as well as the fiat forex market.

Thus, to trade the pair successfully, traders must familiarize themselves with both XRP, as well as the Ripple platform. They also need to assess the factors that impact fiat currencies, specifically GBP. It must be noted that XRP’s volatility dropped significantly during 2018, particularly beyond the 3rd quarter. During early 2018, XRP’s volatility on an average was over two times of Bitcoin, as well as Ether.

Xrp/GBP key technical points

So, if you are looking to open an XRP/GBP trade position, then you must focus on XRP’s price direction while minimal consideration must be given to GBP. Also, one of the main drivers of XRP, aside from the general sentiment about the crypto market, is the token’s volatility. Currently, the blockchain-based platform is gaining much traction and has been adopted by several financial services, as well as banking partners. This implies that when the volatility drops, an increased number of people will begin using XRP, pushing its price up.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE XRP/GBP

Ripple Price GBP_Chart

The bulls pushed the price above the 20-day EMA on January 7, which was the first indication that the selling may have exhausted. The bulls sustained the price above the 20-day EMA till January 10 but could not launch the next leg of the up-move to £0.20.

That attracted profit booking from traders who may have purchased near the lows. The Xrp price GBP pair dipped below the 20-day EMA on January 12 but the long tail on the day’s candlestick suggests buying at lower levels.

Today, the bulls are attempting to push the price back above the 20-day EMA. If they succeed, the Xrp price GBP may rise to £0.30. If the Xrp price GBP turns down from this overhead resistance, the pair may remain range-bound for a few more days.

The flat moving averages and the RSI just below the midpoint indicates a balance between supply and demand. The longer the time spent in the range, the stronger will be the eventual breakout from it.

If the bulls can drive the price above £0.30, it will open up the possibility for a rally to £0.45. On the other hand, a break below £0.15 may resume the downtrend.

 

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

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