23 July XRPUSD Price Technical Forecast: Ripple is under pressure

XRPUSD has recovered from recent lows but the upside is limited. What next should traders expect? Read on as the following 23 July XRPUSD Price Technical Forecast will reveal.

23 July, GKFX – XRPUSD is trading at $0.4594 to press time, unchanged on a daily basis. Ripple’s coin has recovered from Friday;s low at $0.4490, but the upside momentum is weak. XRP’s market value is registered at $18B with the average daily trading volume $169M. 

Samsung Will Accept XRP

Meanwhile, IT giant Samsung will accept XRP and several other digital coins as a means of payment in  stores located in Tallinn (Estonia), Riga (Latvia), Vilnius (Lithuania), and Kaunas (Lithuania).

Consumers will be able to buy Samsung TV sets and smartphones for crypto via CopPay platform. The IT giant hopes that a broader range of payment methods will increase sales, while Ripple believes that this move will reduce the FUD (Fear, Uncertainty, Doubt) related to the legal status of XRP.

23 July XRPUSD Price Technical Forecast

From the technical point of view, XRPUSD stays below both 100 and 200-SMA (1-hour chart) at $0.4604 and $0.4668 respectively; fresh selling interest spotted around this area, keeps XRP’s short-term bulls at bay.

If it is cleared, the recovery will gain pace and push XRP towards $0,4800. On the downside, the coin is supported by $0.4540 (50-SMA) and $0.4500.

XRPUSD, 1-hour chart


This article 23 July XRPUSD Price Technical Forecast was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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