Ripple (XRP) Holding Really Well

August 30, 2019 5:29 PM UTC

XRP as well as the whole market had a bearish break of the Equilibrium pattern, however, the XRP bulls have been able to push the price back up almost to the last support line, now turned into resistance.

This is very significant because most of the other top names haven’t been able to see any bullish action. BTC, ETH or LTC are still well below the support line.

The 4-hour chart is now in an uptrend for XRP, the nearest resistance is now the 12-day EMA which bulls have been unable to break several times.

The weekly chart is still looking bad for the bulls, the long term isn’t too bright and the bulls are really dangling by a thread.

SBI Holdings, an investment group from Japan announced they will be paying dividends in XRP.

A not so good piece of news is the transfer of around 522 million XRP (around $132 million) from Ripple to an unknown wallet. This would seem to indicate another aggressive selling spree from Ripple although their sales are decreasing.

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