Price Analysis

Ripple Price Analysis: Ripple (XRP) Faces Hurdles to Remain Above $0.30

  • Ripple hovers around $0.29, fails to maintain stability above $0.30
  • XRP has traced a major bearish trendline, which also may pose as resistance levels
  • Ripple price has recently broken below $0.30 and is furthering the downward move

It has been so long since Ripple price was holding a bullish sentiment and was at least above $0.35. Over the last couple of days, XRP price is hustling to trade steadily above $0.30 but, apparently, it still lacks the price push against the U.S Dollar.

Yesterday morning was a bit bullish for the price of XRP as the coin saw a few positive signs above $0.30. Though, later the coin traced a steady dip near $0.2979 and then struck a mild price rebound. XRP has traced a bearish trendline here, while it also managed to trade above $0.30 twice. After the second spike near $0.3009, the XRP price corrected down to $0.2999 and then again climbed to $0.3003 before closing the day.

However, today the coin has slipped below $0.30 and since 2:35 UTC today, XRP price is ranging around $0.29. At 04:26:45 UTC, Ripple price is at $0.2982.

XRP/USD Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

XRP’s current price is 19.70% lower than its 100-day SMA of $0.3714. The coin is carrying a prolonged selling pressure, also the coin has just slipped below its 5-day SMA.

XRP was trading below its 10-day SMA since yesterday, and today’s extended bearish trend has pulled the coin even below its 5-day SMA.

Ripple Price Prediction & Technical Indicators:

MACD chart of XRP/USD is lowly volatile and is in bearish zone. RSI for the coin is near 30 indicating oversold phase. Ripple may see resistance prices at $0.303 and $0.3058 while its support levels appear at $0.298 and $0.2958.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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