Ripple Price Analysis: Bears Intensifies Over a Week, XRP Battles for a Price Recovery

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  • Ripple takes an upward correction from $0.38 to $0.39 over a day
  • XRP had an intense price decline even below $0.38 a couple of days ago, currently struggling for a price recovery
  • Ripple price has not touched $0.40 price mark since yesterday
  • Contrary to XRP, Bitcoin has been maintaining its price position above $11000

XRP is bearishly trading against the U.S Dollar while facing strong resistance above $0.39. Meanwhile, BTC price is steadily holding its price above $11k for a few days.

In the last 5 days, XRP has broken the critical support level of $0.38 and tested the support price at $0.37. Initially, the price has traced a strong downward trend line continuing its bearish impact till it bottomed at $0.3743.

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Correcting upwards, Ripple traded above $0.38 and then it struck a sharp price surge at $0.4101, clearing major resistances. However, it saw a gradual pullback from there and it has been ranging between $0.38 to $0.39. Currently, XRP seems to be failing to clear price barriers above $0.39 as it is yet to cross $0.40 price mark.

XRP 5-Days Price Chart

Ripple Price Chart
Ripple Price Chart

 

XRP is trading in its narrow price range near $0.39 with its current price of $0.3968 at 04:26:52 UTC, which is 6.08% lower than its 20 day SMA of $0.4225. Though its current price is a bit above its 5-days SMA of $0.3894. This scenario shows that the coin is currently in an attempt to leave the bears behind.

Ripple has already dipped below its major support level of $0.38 and is currently holding its another key support near $0.39. The coin needs a strong price boost above $0.42 to step out of the current bearish trend.

Ripple Price Prediction With Technical Indicators:

The MACD chart shows a recent bullish crossover for the XRP price. While RSI for XRP is quite near 70 indicating an overbought phase for this point of time. XRP may see major resistance at $0.4013 and $0.4057 if it manages to move above $0.40, while it can see support levels at $0.3901 and $0.3832.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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