XRP price has retraced below $1.50 but remains well supported above the 100 SMA on the 4-hour chart
XRP is trading around 7.5% down on the day after intraday trading has seen its price drop off from $1.55. The cryptocurrency’s value currently swings near $1.49 as bulls seek to rebound off lows of $1.40.
The struggles in the Ripple market are the complete opposite of Ethereum’s parabolic swing over the past 24 hours. The second-largest cryptocurrency by market cap is up nearly 8% on the day and over 30% this past week as bulls seek to consolidate above $3,300.
As for XRP, buyers need to flip $1.50 into support before attempting another push for a new all-time high.
The popular but pseudonymous XRP analyst cryptoWZRD says the technical outlook for XRP/USD and XRP/BTC suggests fresh gains to a new ATH are likely. According to the analyst, a bullish breakout for the BTC pair will help catapult XRP price above $1.95.