Ripple XRP Lost the Most on Last Week’s Pullback, But It’s Recovering

Ripple XRP coin wasn’t taking advantage of the crypto surge during the past year, until this month. It started to turn bullish in November last year when the surge started but it vage back the gains in December.

Then in February we saw another attempt, with Ripple tripling in value as it moved from $0.25 to $0.75 as wqe explained in our 2021 Ripple forecast, but that attempt failed as well. The proper surge only started in the first week of April and XRP/USD increased from around $0.50 to nearly $2 in less than two weeks.

That was quite a surge, but by the middle of this month the retreat began and the cryptocurrency market dived lower. Bitcoin and other major cryptos lost around 15-25% while Ripple coin lost more than half its value. Hence the expression, the fastest you climb, the harder you fall.

Ripple Live Rate

Ripple fell just below $0.90, but that’s were it met the 50 SMA (yellow) on the daily chart. The price formed a pin candlestick down there, which is a bullish reversing signal after the fall, but the decline continued the next day as well.

On Sunday RIPPLE formed a doji above the 50 SMA which is also a bullish reversing signal and the reversal began this week. The price moved above $1.45 at some point yesterday, which mans a 50% increase.

Today the price is retreating lower, but the decline seems weak and slow, so buyers remain in charge and soon the bullish trend will resume again. We are long on this cryptocurrency and now we are more than 5,000 pips in profit.