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Ripple crashed in the short term and by the moment of writing is located at 0.5045. USD's strong appreciation versus the other major currencies after the FOMC forced the crypto market to drop. Still, the retreat could be only temporary. The altcoin could test and retest the near-term support levels before jumping higher again.
It has dropped by 4.68% from yesterday's high of 0.5252 to 0.5006 today's low. In the last 24 hours, XRP/USD is down by 1.96%, but it's still up by 4.85% in the last 7 days.
As you can see on the H4 chart, the rate failed to stay above the 0.52 psychological level and now is almost to reach the lower median line (lml) again.
This stands as a dynamic support, so the altcoin could develop a new bullish momentum as long as it stays above it.
Testing and retesting the lower median line (lml) and registering only false breakdowns may announce a new bullish momentum. Coming back above the R1 (0.5140) and making a new higher high brings new longs.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
