XRP price is winding around $0.50 on the daily price chart on Binance despite the altcoin being in a demand zone between $0.46 and $0.50. The altcoin
Lockridge Okoth, a technical analyst at FXStreet, evaluated the daily price chart for XRP and made an observation that bulls are likely “sitting on their hands.” This has exposed XRP price to the risk of decline toward critical support at $0.48. A break below this support level could push the altcoin to the lower base of the demand zone at $0.46.
Okoth notes that a 15% decline to August 17’s intraday low of $0.41 is likely, and the Relative Strength Index supports this thesis. XRP price could recover from the recent decline if it climbs past the 100-day and 50-day Exponential Moving Averages at $0.55 and $0.56, respectively.Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc.
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