Ripple is up against a wall of resistance, and a failure may send XRP below $0.7.

Over the last eleven months, Ripple has been on a declining trend. This comes after a recent high of around $2. Despite the green candle that has appeared this week, the daily candles have not showed much strength.

The Chart of the Day

Ripple is currently trading around $0.85, below the EMA200 line (shown in white) on the daily timeframe, which has served as resistance in previous months.

The static resistance at $1 (shown by blue) is the primary critical level moving forward, since it intersects with dynamic resistance (indicated by red) and serves as a psychological barrier. Ripple has a tough road ahead of it, and breaking above $1 shouldn’t be simple.

The state of the CMF indication is noteworthy.

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