The drop below $ 0.20 caused XRP to lose third place in the coinmarketcap market capitalization ranking.
At the time of writing, XRP has a market capitalization of $ 8,793,251,900, USDT, which has replaced Ripple’s currency, has a market capitalization of $ 8,796,862,934.
Since falling below the 100-day moving average 14 days ago, the price of XRP has failed to close above that level.
If sellers push the price down, the first level of support falls to $ 0.192 (the level of .382 fib retreat). There was no closure under this support for the whole of May and it is therefore considered strong support. Below that, we have supports at $ 0.18, $ 0.175 (.5 fib retrace) and $ 0.171. If there is a drop below these levels, the price may stop falling to $ 0.157 (.618 fib retrace) and $ 0.147.
If buyers manage to win $ 0.20, there is resistance to $ 0.207, where the 100-day moving average is located. Above that, resistance is expected at $ 0.215, $ 0.225 (where the 200-day average is located) and $ 0.235.
The relative strength index is just below 50, which indicates a slight bearish momentum. If the index continues to fall, then XRP is expected to target support at $ 0.192 or even below that level.