A week has passed since the announcement that Coinbase would be listing XRP.
This was an event which had been anticipated by traders as early as 2017.
Price increased 14% on the announcement but quickly reversed the following day.
Price failed to follow up with a second wave of buying and has now almost reversed almost all of its increases.
$0.296 has been acting as a support level for the past month and price is once again finding support at this level.
XRP 4-Hour Chart – Source: Tradingview.com
The 4-hour RSI and MACD indicates short-term momentum is with the sellers with both indicators decreasing.
Price dropped near the $0.296 support level in recent trading, but buyers quickly brought the price back up.
It is likely we will see another retest of this level in near-term trading with most top cryptocurrencies continuing to depreciate today.
BNB Weekly Chart – Source: Tradingview.com
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