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  • Sat. Nov 26th, 2022

Watch these levels as XRP fails at resistance that has been holding price

ByNdasi Tata

Jul 22, 2022
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ChicMe WW
  • XRP corrects 5% after a week of gains

  • Ripple continues to enjoy positive developments on the case with SEC

  • XRP could continue to correct until it finds support at $0.33

Ripple’s XRP/USD is recovering, but sustainable gains depend on a key resistance. As of press time, XRP was down 5% in 24 hours as bulls failed to inspire a breakout of $38. The token fell alongside other cryptocurrencies. The decline can be said to be a correction after the market was bullish for a week. 

Revising the SEC case, Ripple remains right on track, although the outcome remains uncertain. On July 12, a US court rejected SEC’s call to withhold some documents against Ripple. The documents, which relate to 2018’s so-called Hinman speech, could have influenced proceedings. Either way, courts continuously siding with Ripple is positive. It suggests that things are progressing well for the firm. The markets are warming up for the outcome of the case that could shape XRP’s price.

As of the moment, XRP remains among the top cryptocurrencies despite the uncertainty. At position 7 by market cap, it is above Cardano and Solana. The latest gains have been due to market sentiment, but XRP has a hurdle to clear at $38.

XRP corrects after rejection at key resistance

 1658444711381 2d4d6996 b789 461a 9dad cb5a4e17efc0Source – TradingView

Technical analysis indicates that XRP has been rejected again at the key resistance of $0.38. The MACD indicator has crossed below the moving average, suggesting a bearish momentum. Following the latest gains, investors could be taking profits. We expect the current correction to continue. XRP could settle at a support zone of $0.33. It could also slide to another support at $0.30. Investors should watch the two levels for price action and sentiment.


XRP has a short-term bearish momentum after getting rejected at $0.38. The cryptocurrency could settle at $0.33 or $0.30.

The post Watch these levels as XRP fails at resistance that has been holding price appeared first on CoinJournal.

Ndasi Tata

Ndasi Tata is a Cameroonian-born Bitcoin entrepreneur and former state journalist. He earned an M.Sc from the University of Nicosia in Cyprus in Blockchain and Digital Currency. He uses a variety of social media channels to promote his ideas and projects , and he's a major proponent of Bitcoin in Africa.

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