Chances Are XRP Will Outperform BTC And ETH In The Short-Term

Chances are XRP will outperform BTC and ETH in the near-term as the coin remained stable above $0.5000 while there were some heavy losses in BTC and ETH against the US dollar as we are reading more in our latest XRP price news.

Ripple failed to clear the major hurdle at $0.6500 and corrected lower against the US dollar with the price trading near the $0.5200 support and the 100 simple moving average so there’s also a major bullish trend line with the support at $0.5150 on the 4-hour charts of the pair. The pair could start a fresh rise if there’s no close below $0.5000. There was a sharp upwards move at the $0.5200 resistance zone with the price surging above $0.600 and settled above the 100 simple moving average. The price then had a hard time managing the hurdle at $0.6500 barrier and topped near the $0.6501 level and started a new decline. There was also a drop in bTC and ETH but  XRP remained stable above $0.5000.

Chances are XRP will outperform both ETH and BTC as there was a break below the 50% fib retracement level from the upwards move at $0.4330 swing low to $0.6500 swing high. The price is now trading near the $0.5200 support and the 100 simple moving average with a bullish trend line with support of $0.5150 on the 4-hour charts of the pair. The trend is close to the 61.8% fib retracement level from the retracement level of the upwards move from the $0.4330 low to $0.6500 high. On the upside, the price will likely increase above $0.5400 levels with the main resitance standing at $0.5500 above which the price could rally even higher.

If Ripple fails to shoot higher above $0.5500 it could correct lower so with the initial support on the downside being near $0.5150 level and the trend line. Breaking below this support level, could lead the price at $0.5000 zone with more losses leading the price above $0.4400. 4-hour MACD for the pair is in the bearish zone while the 4-hour RSI is below the 50 level.

As recently reported, XRP’s price was crushed due to the US Securities and Exchange Commission filing a lawsuit against Ripple Labs alleging that the tokens were unregistered securities. Right after that, XRP’s price took a drop as the exchanges started delisting it.