Posted on: February 15, 2021 Posted by: admin Comments: 0

The bears rejected XRP at a strong resistance line of $0.63 and an extended period of bearishness could see the crypto asset touch $0.45 support. Even though indicators on AAVE showed some optimism in the short-term, the direction of the broader market could dictate its future trajectory. Finally, BAT looked poised for a bullish reversal and could flip $0.55 resistance if buying activity picks up on the charts.


Source: XRP/USD, TradingView

XRP was rejected at the $0.63 price level and a 10% drop in the last 24 hours saw the world’s fourth-largest cryptocurrency move towards the $0.55 support. An extended pullback over the coming sessions could negate some, if not all of the gains made over the past week.

The indicators put their weight behind the sellers. The MACD line moved well below the signal line, while the Awesome Oscillator targeted a move below the equilibrium point. Since the 24-hour trading volumes remained muted, there was a little chance of a bullish reversal over the coming sessions. Instead, support at $0.45 could be under the spotlight in a bearish outcome. In case the bearish momentum fizzles out, expect XRP to test $0.63 resistance once again.

Aave [AAVE]