30 SEPT 2021 | ZebPay Trade-Desk
Ripple (XRP), has been witnessing a battle between the bulls and the bears. The trend that the asset has set for itself, suggests some indecisiveness among investors and traders alike. Having said that, volumes have been on the rise over the past few days, indicating that after falling about 12% last week, the asset became increasingly attainable and attractive for investors.
XRP after surging almost by 173% from $0.516 to $1.415 faced stiff resistance at higher levels and witnessed a sharp correction almost by 39% making the low of $0.859. Although Cake has been trading in the downward trend over a month, the asset has taken support at a very crucial level of $0.8596 (61.8% Fibonacci Retracement Level) and has started consolidating. Currently, the prices are trading in a range from $0.868 to $1 with low volumes. Breakouts on either side with good volumes will further decide the trend for the asset.
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