XRP–USD daily chart

XRP–USD daily chart

Gate Trade Ripple Tuesday, May 19, 2020 1442 0

This suggests that the bulls are likely to find it difficult to break above the zone between $0.20570 and the downtrend line.

If the 3rd-ranked cryptocurrency on CoinMarketCap turns down from the current levels, it can drop to the 50-day simple moving average ($0.197) and if this level also cracks, a retest of $0.17372 will be on the cards.

However, if the bulls can push the XRP/USD pair above the downtrend line, a rally to $0.23612 is possible. A breakout of this level will be a huge positive and can result in a move to the long-term downtrend line close to $0.27.