Ripple Bulls Overwhelm By Bears As The Altcoin Struggles Above $1.20 Support

[Tnoy30]

For the past week, Ripple has been in a downward move. The altcoin slumped from the high of $1.96 to a low of $1.20. XRP price slumps to the support of the 21-day SMA. If the 21-day SMA support holds, it is an indication of Ripple’s readiness to resume a fresh uptrend.

Today, XRP is hovering above the $1.20 support level. The bears have retested the support level twice to break below it but without success. There are bullish signals above the current support which indicates the presence of buyers. However, if the bears break the current support, the market will decline to $1.00 or $0.60 low. On the other hand, XRP will revisit the previous highs if the current support holds. XRP/USD is trading at $1.29 at the time of writing.
Source: Ripple Bulls Overwhelm By Bears As The Altcoin Struggles Above $1.20 Support