XRP/USD gets a breakout above $0.30 but fails to keep the price there

August 14, 2020 Editor Ripple 0

  • XRP/USD was the weakest pair among major cryptocurrencies.
  • XRP finally had another breakout above $0.30 but bulls couldn’t sustain the move and XRP is now trading at $0.295.

XRP has been struggling all year in comparison to other major coins. After the initial breakout on July 22, the digital asset was initially outperforming some cryptos, however, the recent consolidation period has been worse than most.

XRP/USD daily chart

The good news for the buyers is that XRP has defended the daily 12-EMA and has bounced from it. The daily uptrend is, of course, still intact but the $0.30 crucial resistance level seems to prevail. 

XRP/USD 4-hour chart

xrpusd

The 4-hour chart has clearly shifted in favor of the buyers after a bullish cross of the 12-EMA and the 26-EMA.