The past 7 trading days have seen Ripple fall by a very steep 10%, bringing the current price for the cryptocurrency down to around $0.3995 at the time of writing. However, despite the recent price declines seen during June 2019, the cryptocurrency has done very well to rebound at an area of support, and is now on track to break out of a short-term acute symmetrical triangle to start the week on a bullish note.
Ripple is currently ranked in 3rd position, as it presently holds a $16.88 billion market cap value. However, there is evidence to suggest that Ripple may have a larger market cap than Ethereum, which would put it in 2nd place.
Let us continue to take a look at the XRP/USD market and highlight some potential areas of resistance moving forward.
Ripple Price Analysis
XRP/USD – SHORT TERM – 4HR CHART
What Has Been Going On?
Taking a look at the 4HR chart above, we can see that Ripple met resistance at the $0.48 level toward the end of May 2019. Ripple went on…