XRP/USD Price Remains Stuck Under $2.0 As It Loses Steam

The XRP/USD price remains stuck under the range of $2.0 as the recovery loses steam once the buyers started fighting the 200 SMA resistance. In the following XRP news, the ripple holders will be able to delete the wallets from the XRP ledger right after the community vote.

The Ripple price was fighting the selloff across the market during the weekend. The XRP/USD price remains stuck below the last week key support range between $0.2050 and $0.2100. The lower range was extended under the $2.0 range where a new low as formed at $0.1750 so a reversal trend ensued and XRP made a comeback. At the time of writing, the Ripple price flirted with the $0.1988 range after hitting a smaller level of the 200 SMA. On the downside, the $0.19 is standing out as short-term support while the RSI is in the 4-hour range which shows the buying pressure is growing after the recovery from the levels under 30 and 36.

It is also apparent that the selling influence was not ousted which explains the delay in the breaking of the resistance at $0.20. The MACD features a bearish divergence that encourages the sellers to watch out. The indicator is also buried in the negative territory. Ripple could gain momentum and overcome the selling pressure at $0.20. The buyers will need to prepare for the $0.21 resistance and the 50SMA at $0.215. After the vote in the community, the XRP holders are now able to delete their wallets from the XRP Ledger if they wish. The change was voted in by most of the community that demanded an update as we reported earlier in the Ripple XRP news. A tweet by XRP Center Manager Arturo Portilla stated:

‘’After maintaining an 80% consensus during the mandatory 15-day voting period, the XRPL Deletable Accounts Amendment became enabled on May 8, 2020, at 4:29:30 UTC, through the ledger 55,313,921. Only the owner of an account can delete it, though, since you have to send a transaction from the account to be deleted.’’

Ripple shatters a major macro support level but XRP is still underperforming Bitcoin and sees downside against the USD trading pair within the bullish market conditions.