RATE Group | XRP Price on Final Support Before $0.06? Key Level Holding for Now
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XRP Price on Final Support Before $0.06? Key Level Holding for Now

20 Mar XRP Price on Final Support Before $0.06? Key Level Holding for Now

Posted at 02:20h in Cryptocurrency News by

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Recently, cryptocurrencies and Bitcoin (BTC) have seen a significant drop. Bitcoin was not the only crypto to see a steep fall as other markets have seen one as well, including equities which are down between 30% and 40%.

Crypto market daily performance. Source: Coin360

Crypto market daily performance. Source: Coin360

These movements also meant a further drop in altcoins. However, some outcomes have been doing slightly better than Bitcoin in recent weeks and one of them is XRP.

XRP price on final USD support before $0.06

XRP USD 1-week chart. Source: TradingView

XRP USD 1-week chart. Source: TradingView

The XRP/USD chart shows many comparisons with the previous cycle, but it also indicates that the price is resting on the final support before a huge meltdown. The price of XRP dropped below the support of $0.15 intra-week (as it hit $0.10) but closed above the support of $0.15 with the weekly close.

Through that, XRP price is holding the $0.15 support at a significant level. Losing this area would kickstart a further drop to the next support at $0.06. Moving towards $0.06…

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