Despite the constant outlandish predictions from the XRP Army – $10 USD by 2021, $100 etc. – the digital asset token has continued to perform poorly through 2019, recording a yearly low of $0.204 USD on November 26th.
With Bitcoin (BTC) and majority of the top cryptos struggling to reach the heights achieved in July this year, as BTC crossed the $13,000 USD mark and XRP soared to $0.50 USD, a dark cloud is forming in the industry. XRP remains the coin that has suffered the most amongst the top three heavyweights – BTC, ETH and XRP – recording its lowest price in 2019 on Nov. 25th and is yet to recover back to resistance levels at $0.24 USD.
XRP/USD MACD Turns Bearish as Selling Pressure Intensifies
The year has been full of sell-offs or pre-meditated selloffs by Ripple as the largest XRP custodian released batches of tokens on the open market. XRP/USD currently trades at $0.2204 USD, threatening to extend its bearish run towards the close of the year as Ripple looks set to release yet another batch of tokens on the market.
The MACD is further confirming the bearish statements as it forms a death cross on the weekly and daily charts. If bulls fail to push the price…
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Author: Lujan Odera