Ripple Price Analysis: Ripple Price (XRP) Dips As Low As $0.25 With No Crossover Above $0.30 in the Past 10 days
Ripple has been moving in the price range of $0.25 to $0.29 since the past 10 days. Previously, XRP had been constantly trading at $0.30 for a long time just before it slipped in the lower range.
The constant trading within the range of price indicates that Ripple takes enough time to complete the oscillating loop. And that XRP price may take substantial steps for a persistent trade above $0.30 and even beyond.
Although when observed closely we see that XRP is currently correcting upwards with a tint of flattish trend. The 24-hour statistics shows that the Ripple coin opened around $0.272 trading price yesterday i.e. 26th August and closed around the same price area at $0.270. But it is important to highlight that today the coin’s 24h volume has grown by a substantial amount as compared to yesterday.
XRP to USD Chart By TradingView:
The below Ripple price chart is a data feed taken from Coinbase as on 26th August at 06:52 UTC.
As observed from the 10-day movement, it is very well evident that the coin was trading at the lowest price area around $0.25 on 16th August. After sudden bumps, XRP was ranging around $0.29 on 18th August. Having a downward stride in the next 3 days, Ripple was trading at $0.25 at 21st August, making a double bottom again. The downward trend has been widely evident from the candle structure and the closing price there upon.
XRP is currently trading at $0.2711, with over 8% surge and 7% plunge from the respective low and high.
Technical Indicators:
XRP still trades with a selling pressure, with its current trading price being close to the short-term moving average i.e. 5-day SMA ($0.27200) and 10-day EMA ($0.27386). While Ripple price is 11.73% less than its long-term SMA i.e. 50-day SMA ($0.30714)
As per the Fib retracement, the current trading price of Ripple is below 38.20% resistance of $0.2784 and it faces extreme resistance at $0.29, 0.00% Fib retracement to effectively breach $0.30.
The RSI of the coin remains at 50, with no extremities at present.
