Ripple price analysis: XRP/USD battered bulls lack momentum to recoil, Coinmama users can now buy XRP on the platform

  • Coinmama has made it possible for users to buy digital asset tokens with both credit cards and debit cards.
  • The bearish momentum is threatening to test the next key support area at $0.55.

The support at $0.58 – $0.56 played a big role in stopping the declines that prevailed yesterday. Ripple rejected all the other support areas marked by several retracement levels as observed on the chart. Ripple price is down 2.88% on the day, while a bearish momentum is threatening to test the next key support area at $0.55.

The latest news regarding Ripple is that XRP has been added to Coinmama cryptocurrency platform. The crypto platform has made it possible for users to buy digital asset tokens with both credit cards and debit cards. The service, however, has a $100 lower limit and a maximum limit of 8,000 XRP in a single order. Ripple joins other cryptos added to the platform not long ago, including but not limited Litecoin, Bitcoin Cash as well as Cardano.

Consequently, Ripple price is trading at $0.56, although it is still correcting lower owing to the bearish trend. The 50 SMA has crossed above the longer term 100 SMA to signal that the buyers are seeking an entry position. However, the RSI is almost sinking into the region below the 30 mark to show that the bears are not done with the selling rally. As mentioned, the support zone at $0.58 – $0.56 stopped the recent declines, but in the event, more declines ensue, XRP/USD will be supported at $0.55.

XRP/USD 2-hour chart


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