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3 Battered Cryptos Are Flashing Bullish Signals – Hint: One is Ripple

Kiril Nikolaev
Three battered cryptocurrencies are flashing wildly bullish technical signals. Hint: one of them is Ripple (XRP). | Source: Shutterstock

 
The crypto market’s steep selloff over the last few days has driven the total market capitalization of all cryptocurrencies from a high of $294.9 billion to lows of $249.1 billion this week. That’s a drop of over 15 percent in less than five days.

As a result, many coins – including large-caps – plummeted close to crucial support areas before enjoying a moderate recovery on Thursday.

The silver lining from the downturn is that it demonstrated that bulls are willing to defend their territory, even in battered cryptocurrencies like Ripple (XRP), Bitcoin Cash, and EOS.

Ripple (XRP/USD) Still Stuck in Range Accumulation

Ripple had a perfect opportunity to break out of accumulation and start its bull market on June 22 when market participants pushed the price above range resistance of $0.46. All the bulls needed to do was stay above that level for a few days to trigger the fireworks.

Unfortunately, there was no follow-through, and the failed breakout emboldened bears. This triggered a massive selloff that pushed the price to as low as $0.2825 on July 16.

Ripple chart

Read the full story on CCN.com.