XRP/USD remains weak and it’s at danger of crashing after millions XRP coins from PlusToken scam were moved to exchanges

June 22, 2020 John Ripple 0

  • XRP is still one of the weakest coins despite an overall recovery of the crypto market.
  • Millions of XRP coins were moved to exchanges from the PlusToken scam, the famous $2 billion crypto theft.

XRP is again under selling pressure after failing to see a significant bounce and millions of coins were moved to exchanges from the PlusToken scam. The pressure combined could lead XRP into another crash, this time below $0.18. 

XRP/USD daily chart

It’s clear that XRP’s daily chart is far weaker than the rest of the coins with only a 1.5% price surge on June 22. One of the main differences between XRP and others is the fact that XRP is trading below the daily 12-EMA at $ 0.191 and it’s not close to climbing above it. There are plenty of resistance levels to the upside including the 12-EMA and the 26-EMA. 

Support can be found at $0.1847, the low of June 20, and $0.182 the low of June 15. Below those two levels, bulls will only find a psychological support level at $0.18 and some support at $0.178.

XRP/USD technical levels