Ripple’s XRP Maintains Strongest Positive Stance After Recent Flash Crash

Ripple's XRP Maintains Strongest Positive Stance After Recent Flash Crash
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XRP prevails as the strongest crypto after the recent massive crash. XRP is the only cryptocurrency able to set higher lows after the initial crash, whereas most of the top cryptocurrencies saw one or two more days of lower lows.

The recent bottom for XRP was set at $0.2126 and the top of the bounce was $0.263, this was a 24% bounce creating a pretty strong daily uptrend where the bulls were able to break above the 12-period EMA but unable to hold it.

The daily uptrend is still in place as the bulls are looking to set a higher low and continue with the uptrend. The nearest resistance is the 12-period EMA and then the top of the bounce. It’s important to note that the actual XRP price, $0.246, is close to the average price of XRP for the past month.

Ripple's XRP Maintains Strongest Stance After Recent Flash Crash
XRPUSD Chart By TradingView

XRP has basically fully recovered from the crash. The 4-hour chart has also turned bearish for XRP with both EMA’s crossing bearish and the price trading below them.

Ripple’s weekly chart is similar to Ethereum’s weekly chart where the bulls are looking to break above the 12-period EMA. Unfortunately, both EMAs are far above the current price.

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The monthly chart is, however, worse. While most of the top cryptocurrencies have been in a monthly uptrend this year, XRP has not been able to confirm one. The bears have full control over this chart and bulls would need a ton of work to change it. The 12-period EMA is currently at $0.335, around 35% higher than the current price.

Most technical indicators are showing a ‘strong sell’ signal for most time frames with the exception of the oscillators on the monthly time frame, showing a weak buy. Ripple’s XRP might be acting like a safe haven for investors as it has been relatively ‘stable’ in 2019 compared to Bitcoin and other cryptocurrencies.

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