Price Analysis

Ripple Gears up to Reverse the Downtrend; Targets $0.30 Price Mark

  • Ripple recently formed support near $0.2709; Price fall may take a pause
  • XRP is dropping since today morning; has not crossed $0.28 yet
  • Technicals set to enter the bullish zone except for SMA line
  • XRP calls for a price boost as it lacks momentum

Ripple (XRP) trading with a bearish impact since yesterday though investors still can expect a path-breaking price move by the coin. If we look a bit in the past, the coin had covered the price range to $0.49 in the month of June this year. This shows that the coin holds the potential to pace up with the market escalations, but at this moment, the coin is suffering to quite an extent.

Ripple Price Prediction

As shown in its 4-hourly chart, XRP price has remained around $0.27. Initially, it gradually but steadily dropped from $0.2740 to $0.2715, which is where it has found a support level to strike a rebound. The coin recovered its price till it reached to $0.2732 and took a fall again to reach as low as $0.2709. After that, the coin has corrected up to $0.271a at 11:35:06 UTC.

Ripple
Ripple Price Chart by TradingView

The pitchfork in the chart shows how the coin has accomplished a breakout from the bearish trend, as the coin has stepped above $0.2713. However, Ripple’s SMA lines are showing the current sentiment in its price trend. On the contrary, the MACD chart and RSI indicator are indicating a mild bullish phase.

Ripple is likely to face resistance levels at $0.2805, $0.2859 and $0.2902, and support levels at $0.2708, $0.2708, and $0.2611.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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