Ripple Price Analysis: Bears Taking a Pause, Bulls Usher XRP Above $0.41

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  • XRP price kicks off this month with an upward move, after yesterday’s downtrend
  • Ripple recovers from its price fall near $0.39, approaching heights above $0.41
  • XRP seems to be forming a support price level above $0.39
  • A steady surge above $0.42 can trigger the bullish vibe

After XRP saw a heavy price drop against the U.S Dollar, the price is showing a growth today. Meanwhile, BTC price has been declining against U.S dollar as it is moving towards its crucial price support of $10k.

Yesterday, Ripple saw a steady and major price decline as the XRP price gradually dropped from its opening price of $0.4291, tracing a bearish trend line. It broke critical support levels near $0.41 and even $0.40, before hitting its 7 Day low price of $0.3929. After correcting upwards, it remained above $0.40 before again tumbling at $0.3964 having its closing price. Here, the price level above $0.39 has acted as a strong support level.

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Since the daybreak today, XRP is trading upwards. From its opening price as low as $0.3922, it surged to the price point at $0.4192 clearing major resistance at $0.4100. Though after correcting down, Ripple coin currently is struggling to remain above $0.41.

XRP Price Chart For 1 Day By TradingView

XRP Price Chart For 1 Day

At 04:53:23 UTC, XRP was trading at $0.4105 which is 4.77% lower than its 20-day SMA of $0.4311. Although the Ripple price is attempting to regain its value, the price drop has caused XRP to tap on ‘SELL’ momentum over a day.

Looking at its price chart, XRP needs to break out above $0.42 to instigate a fresh increase. Currently, Ripple seems to have strong support near $0.39 below which it can see extended price slumps.

Ripple Price Prediction with Technical Indicators

The MACD chart for XRP currently appears bearish, as it shows very little momentum in price. The RSI for XRP/USD is near 45, indicating slight oversold impact. Major resistance levels for Ripple can be at $0.4182 and $0.4400 and it may see support prices at $0.3855 and $0.3746.

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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