XRP Halts Historic Resistance Level As The Crypto Markets Weaken

XRP halts its historical resistance level of around $0.30 after it was deemed as one of the best performing cryptocurrencies in recent times despite its price action throughout the first half of the year. Its recent series of surges have led the price to leave the historic level as we are about to see in the XRP news today.

It is also very important to note that XRP has lost some of its momentum during the downturn in the aggregated crypto market which has been driven by Bitcoin’s inability to post a notable price increase from its recent lows within the upper $7,000 region. At the time of writing, XRP was trading down at the margins and it is currently at a price level of $0.291 which marks a slight retrace from the recent high of more than $0.30 that was set just a few days ago.  Despite its inability to go past the $0.30 price range, it is imperative to outline that the cryptocurrency surged dramatically from its recent low of $0.24 that was set in the past few months and that it has been able to post some gains right after Bitcoin dropped below $10,000 which is when XRP halts its momentum that most of the altcoins have garnered in the recent times.

Bitcoin has continued to consolidate around the $8,000 price range for the past few weeks and has failed to garner any notable momentum which appears to be a really good thing for the XRP price action in the near term. What is also important is that XRP will likely follow Bitcoin’s lead if it plummets down further from its current price level so it is important that BTC continues to trade sideways or it starts surging higher if XRP is to gain solid voting within the $0.30 region. XRP’s inability to continue climbing over the past few days comes from the recent visit to the year-long resistance level that has proven to be a very hard one for the bulls to break. The Crypto Dog who is a popular crypto analyst on Twitter explained this earlier in a recent tweet saying that he is taking some of the profits off the table as it trades underneath the resistance level.