XRP/USD 1-day chart

XRP/USD 1-day chart

Gate Trade Ripple Saturday, May 23, 2020 1142 0

XRP turned around from the overhead resistance of $0.20570 and broke below the 50-day simple moving average ($0.199) on May 21. However, the bears could not keep up the selling pressure and drag the price to $0.17372.

If the price sustains above the downtrend line, a rally to $0.23612 is possible. The bulls can wait for the XRP/USD pair to close (UTC time) above the downtrend line before entering long positions. The stop-loss can be kept below $0.1800.