Ripple Price Analysis: How Far is XRP’s Most Awaited Bull-run?

  • The later part of 3-month chart of Ripple price shows how it has been facing extreme bearishness since the last couple of months
  • Currently, XRP coin is holding onto the key support level of $0.30
  • XRP had even noted a major price decline of 40% in the previous month, bottomed near $0.29
  • Even when Bitcoin climbed above $12,000, Ripple couldn’t catch up with the market bulls

Ripple coin had an exciting price journey till June this year as the coin saw major price spikes above $0.47, 0.48 and even $0.49. However, after a sharp price drop to $0.40, Ripple coin could not recover against the U.S Dollar and resumed the price slump further. The coin is currently just above its crucial support level of $0.30.

On 16th May, XRP had traced a major price escalation as high as $0.4808 and it pulled back to $0.37 within a few days. The major altcoin had two more surges afterwards and the recent most notable price rise was on 26th June at $0.4926. The coin corrected down within just a day at $0.40 and extended the fall till it reached to $0.38.

Later, the coin made an effort to rebound and it could only touch $0.41 and returned back to even lower price point of $0.37, tracing a lower high pattern. Ripple price had another lower high price spike at $0.34 recently, which indicates a downtrend. Also, the Ripple coin is currently at $0.3062 at 04:36:27 UTC.

XRP/USD Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

Ripple’s current price is 17.56% lower than its 100-day SMA of $0.37145, which indicates to the prolonged bearishness in the XRP price trend. The coin has even slipped below its 5-day SMA of $0.3107.

It is yesterday when XRP had breached a major support level near $0.31 and is now relying upon $0.30.

Ripple Price Prediction & Technical Indicators

MACD chart for the coin is volatile enough and it just had a marginal bullish crossover. While RSI is just below 50 showing no extremities at the moment. Ripple coin may see resistance at $0.3117 and support at $0.3009.

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.

Related Articles

Back to top button