Price Analysis

Ripple Price Analysis: Ripple Price (XRP) Fears Downward Stride as it Breaks Down At $0.26

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  • Ripple price slides just like the other two major coins of the market fall.
  • XRP falls to trade near its major support area of $0.25.
  • With this XRP price comes out of the $0.27 price loop and breaks downwards.

Ripple along with the two top-ranked coins of the crypto market takes a downward turn. The short-term traders will only gain if they have keen trading when the coin performs with a bullish crossover.  If observed closely, XRP has been showing an even sharp deterring trend since the start of the day, today.

Price Chart of XRP to USD by TradingView:

The below Ripple price chart is a data feed from Kraken as on 27th August at 10:12 UTC.

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Ripple Price Chart
Ripple Price Chart by TradingView

Tracing the 1-day movement of the coin, we see that XRP has fallen from the trading price of $0.28093 to $0.26828 the lowest of the said time frame by 4.50%. Yesterday the coin closed around $0.270 with a high at $0.277 but currently trades even below its 5-day EMA ($0.270). The current trading price holds the immediate resistance and support at $0.2700 and $0.2650 respectively.

XRP is currently trading with solid selling pressure and in the total bearish zone with a weakening strength to gain back steeply. Yesterday’s trading clearly shows the downward trend the coin faced in the initial hours.

The coin’s current trading price is notably lower than its short-term moving averages and the EMAs as well. XRP needs to have a steady bounce back in order to have a persistent bull trend.

Technical Indicators:

The 10-day SMA ($0.27327) remains close to $0.27 trading price and now that the coin has dipped to a lower level it is even below the short term EMA.

The MACD of XRP appears flattish at zero with RSI slightly above 50 showing no extremities in the overbought or oversold regions.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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