Ripple (XRP) has earned a well-deserved reputation for being resilient. Over the last few days, we saw XRP/USD rally in the face of a market meltdown. However, when the time to correct came, Ripple (XRP) still managed to remain above its trend line while most other coins would have pierced right through their trend lines to complete a full correction. The daily chart for XRP/USD shows that Ripple (XRP) has now found a strong support at the $0.457 level. The price has held this level during a recent retest and is unlikely to fall below it. The daily RSI has also cooled down without doing much damage to the price of Ripple (XRP). In fact, as the market recovers Ripple (XRP) might once again be due for another rally.
The EMA alignment for Ripple (XRP) has now turned bearish and one would expect it to fall further. However, Ripple (XRP) seems to be holding strongly above the trend line and does not appear likely to drop below the support and the trend line. That being said, the 5 Day EMA has now turned into a strong resistance that Ripple (XRP) may not be able to break anytime soon. The daily volume is starting to recover but most of it has been on the sell side so far. Ripple (XRP) investors would still like to see some bullish volume return to the market. There are a lot of hodlers in the XRP community that do not trust exchanges and have their coins stocked in cold storage wallets.