Price Analysis

Ripple Price Analysis: Ripple (XRP) Approaches Key Support Level; Fresh Rise or Further Loss Ahead?

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  • Ripple fails to clear resistance above $0.32, traces a bearish price path over a day
  • Currently, XRP is oscillating between $0.30 to $0.31, $0.31 is posing as a support price
  • After the price decline below $0.32, XRP appears under selling pressure

In the last one day, Ripple coin has traded with bearish impact against U.S Dollar. As the coin is holding onto its support price, it is to be seen whether a fresh increase takes place or will XRP face further price fall.

Yesterday morning price actions of XRP were bullish as it surged to $0.3227 from its opening price at $0.3158 with an increase of 2.20%. Ripple coin then corrected down to $0.3168 and again started to surge gradually to reach at $0.3212. The coin here pulled back to $0.3151 and since then XRP has traced a bearish price path.

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It appears that the coin was struggling to clear resistance above 0.31 till today. Today, Ripple price is much below $0.3160 and is hovering between $0.30 and $0.31. At 04:23:05 UTC, Ripple coin was trading at $0.3105.

XRP/USD Price Chart by TradingView

Ripple Price Chart - 26th july 2019
XRP Price Chart by TradingView

XRP’s current price 12.58% lower than its 30-day SMA of $0.3552. The recent decline has caused the coin to continue to trade under selling pressure. In the last 24 hours, Ripple price decreased to 1.67%.

Ripple has traded below the major support level near $0.3198. The coin needs a strong and stable price boost above $0.32 to start a fresh rise.

Ripple Price Prediction & Technical Indicators:

XRP’s MACD chart appears lowly volatile and is moving in the bullish zone. Meanwhile, RSI is near 50 showing no extremities. Ripple coin may see further resistance at $0.3195 and $0.3241 and support levels at $0.3091.

Ruti Vora

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

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