A new update from 100eyes Crypto Scanner says that XRP, the controversial Ripple token, is getting close to $0.47, which is a key horizontal support.
In the past 24 hours, the token’s value has dropped by 2.5%, making it less valuable than other top 10 cryptocurrency.
Technical analysts pay attention to levels of support and resistance. At the moment, signs show that there is some buyer interest at the $0.47 mark.
Caution On XRP Stability
But there is a warning that if the trend toward falling prices grows, this level of support could turn into resistance, which could make it less stable.
The price of XRP has dropped 13.5% in the last month, but it still has a lot of wins for the year so far.
Matthew Dixon, CEO of Evai, thinks that Ripple token will start to rise again because there were strong technical signs this morning around the $0.47 support level. He said that dollar-cost averaging was a smart thing for traders and buyers who were interested in XRP to do.
