Ripple Price Analysis: XRP Breaches Key Support Near $0.31, Faces Turbulence
- Ripple coin failed to clear resistance above $0.31, recent price drop breached the key support level
- XRP traced an impulse pattern over a day with bearish impact, meanwhile, Bitcoin again gets ready to cross $12k
- Currently, Ripple is struggling to climb above $0.31, the coin recently slipped below its 5-day SMA
Ripple price is witnessing a gradual price drop since yesterday in its price against U.S.Dollar. On the other hand, Bitcoin is showing steady growth in its price trend as it is just below $12k, and might soon cross the major price mark.
XRP was stably above $0.31 till 7:55 UTC yesterday, and the coin started to oscillate between $0.31 to $0.30 after that. XRP had its 24-Hour High price at $0.3154, from where it could not fight the resistance further and corrected down near $0.3088. The Ripple price then bounced back near $0.3135 and again dropped to $0.3075. XRP price again escalated above $0.31 before having its closing price at $0.3119.
Since today morning, XRP coin is tracing a downward price momentum and the coin is at $0.3075 at 05:01:06 UTC.
XRP/USD Price Chart:
Ripple’s current price is 17.20% lower than its 100-day SMA of 0.3714. Also, the coin has recently moved below its 5-day SMA of $0.3139. XRP is trading under prolonged selling pressure.
The recently breached major support level of XRP is $0.31 and the coin is still approaching further lows. XRP is anticipated to strike a notable price recovery soon as Bitcoin price is already on its way to hit the $12k price.
Ripple Price Prediction & Technical Indicators:
MACD for the coin is moderately volatile and it just had a bullish crossover. RSI is at 50 which shows no extremities at the moment. XRP may see resistance at $0.3154 and support levels at $0.3086.
