Ripple is close to the April 01 lows of $0.45351. This is a critical level because the next support on the chart is way lower at $0.22255, which was the low made on December 11 of last year. Therefore, we expect the bulls to strongly defend the $0.45351 mark.
However, if the support breaks, the XRP/USD pair will resume its downtrend and move towards $0.35. With both moving averages falling, we don’t find any buy setups on it.
We shall wait for prices to break out of the 20-day EMA and sustain above $0.56270 before proposing any long positions.