Ripple project has always been a controversial topic among the crypto supporters. There are few people who support XRP while there are others who believe that the project doesn’t have any potential. The project was launched in 2012, which makes it one of the oldest cryptocurrencies. XRP has around 209,000 Reddit subscribers and 945,000 Twitter followers. The XRP codebase has been forked more than 1,000 times, but the most prominent was the Stellar (XLM) network.
XRP users believe that Ripple’s partnership with financial incumbents will make the project success; XRP proponents believe that XRP will dominate other big cryptos, including BTC while helping in decentralizing the fiat settlements and remittances worldwide. There are other crypto enthusiasts who think that the project is too centralized, and the number of coins held by founders is intimidating.
Recently, XRP managed to break the $0.20 level after jumping from $0.192 provided by a 0.382 Fib Retracement level. However, the coin struggles above the resistance at the 100-days EMA around $0.207.
XRP is failing to break the resistance over the past few days of trading, and it should climb up if it would like to go back to the $0.225 level or else it is likely to head back lower beneath $0.20.
The first level of support toward the downside lies in the $0.202. Beneath this, the support is located at the $0.2 and $0.195. If the bulls can rebound from the $0.207 and can push higher, the resistance is located at $0.22.
The RSI is in oversold conditions, but it is starting to point higher, which shows that the selling pressure can fade in the coming days.