XRP reverses July gains: When will prices stabilize?
Ripple sellers overwhelmed the 50% Fib level, and sought more ground. Is there an end in sight to the price slump?
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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
The extended pullback threatened to claw all July gains.
Quarterly and monthly XRP holders posted mixed performance.
Ripple’s [XRP] tidings have changed swiftly in the last few days. The euphoria in mid-July after Ripple Labs’ partial legal win dissipated afterwards. Notably, the firm termed the legal suit “propaganda” in an official report on the partial legal win.
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But XRP’s price bled further, threatening to reverse July gains after the win.
Bitcoin’s [BTC] price action wasn’t impressive too. As the king coin struggled to hold on to the $29.0k mark, the weak BTC could delay a solid corrective rebound for XRP.
Sellers overwhelmed 50% Fib level
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