XRP/USD daily chart.

XRP/USD daily chart.

Gate Trade Ripple Saturday, May 16, 2020 406 0

XRP bounced off the critical support at $0.17372 but hit a wall at the 20-day EMA ($0.20). This suggests that buying dries up at higher levels. If the price turns down from the current levels and breaks below the 50-day simple moving average, a drop to $0.17372 is likely.

Conversely, if the bulls propel the 3rd-rankedcryptocurrency on CoinMarketCap above the 20-day EMA, a move to the downtrend line is possible. This level might again act as a resistance but if crossed, a rally to $0.23612 is likely.