Price Analysis

Ripple Price Analysis: Bulls On a Break; XRP Pulls Back to $0.39

  • Ripple price fails to hold above $0.40, trading downwards since yesterday
  • XRP is testing support levels above $0.39 at present
  • Ripple may see further turbulence unless it corrects above $0.40
  • Contrary to this, Bitcoin is heading towards its next price target at $13k

XRP coin recently started to move bearishly against U.S Dollar after having a steady rise above $0.40. On the other hand, Bitcoin has maintained its price range well above $12000, in fact, it is heading to touch $13000 price mark.

Yesterday, the Ripple coin started to trade with its opening price at $0.4016 and it remained above $0.40 till 7:47 UTC yesterday. After that, it oscillated between $0.39 to $0.40 before taking a nosedive near $0.3947 with a decrease of 2.08% in only 23 minutes. Here, it has traced a strong bearish trendline.

It further dropped gradually to its Yesterday’s low price point at $0.3912 before having a minor upward correction above $0.3940. The XRP coin since then has not breakout above $0.40.

XRP/USD 1-Day Price Chart by TradingView

Ripple Price Chart
XRP Price Chart by TradingView

At 04:07:31 UTC, Ripple was trading at $0.3943. Its recent price scenario has again tapped on a bearish trend as it is 5.89% down as compared to its 20 days SMA of $0.4190. Due to this, the coin is currently going through the ‘SELL’ phase.

XRP is currently approaching its crucial support level near $0.39. The Ripple coin needs to make an upward move while not breaking the support near $0.39 in order to avoid further losses.

Ripple Price Technical Indicators:

RSI for XRP is currently at 50 showing a stable momentum in its price trend, while MACD for XRP appears less volatile and is in a bearish zone. XRP coin may see further resistance at $0.4033 and $0.4126 if it manages to move above $0.40. Though it can see support levels at $0.388 and $0.382 if it faces a drop.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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