XRP/USDT daily chart

XRP/USDT daily chart

Gate Trade Ripple Tuesday, May 5, 2020 1082 0

The upsloping moving averages and the RSI above the 60 level suggest that bulls have the upper hand. A break above $0.24560 can result in a move to the long-term downtrend line at about $0.28.

However, if the bulls struggle to propel the 3rd-ranked cryptocurrency on CoinMarketCap above $0.24560, traders can book partial profits on their long positions and trail the stop-loss on the rest of the position to $0.20. Below this level, a drop to $0.17372 is possible.