Price Analysis

Ripple Price Analysis: Ripple (XRP) Returns to $0.31, Bears to Re-appear?

  • Ripple coin loses its price position above $0.34, breaks below the support level of $0.32
  • XRP currently hovering around $0.31, shows downward momentum
  • In the last 24 hours, Bearish trendline has been formed, while the coin is facing selling pressure
  • At present, price range around $0.31 seems to be a decent support

Yesterday’s bullish bias of Ripple coin appears at a pause as the coin is trading downwards against the U.S Dollar. Though the coin is in an attempt to strike upward price move, it is to be seen when the XRP can emerge with a full price recovery. Meanwhile, Bitcoin has recently lost its price position above $10,500 and is hovering around $10,200.

Notably, a month ago, the XRP coin went above $0.48 and now the coin is struggling to stay above $0.31, indicating Ripple’s remarkably bearish phase.

Yesterday morning price moves by Ripple price were stable and it was ranging between $0.3323 to $0.3280. With a steady drop, the price touched $0.3219 price mark. After an upward correction near $0.3256, XRP saw a major drop to $0.3168 with a decrease of 2.74%.

It corrected from there and again reached above $0.32, but couldn’t remain there and pulled back to $0.3163. The coin since then has been struggling to climb above $0.32. At 04:05:06 UTC, XRP was trading at $0.3178.

XRP/USD Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

The current XRP price is 14.29% lower than its 30-day SMA of $0.3708, showing its current bearish nature. The coin is currently trading under selling pressure while waiting for a price boost.

At present, Ripple coin is battling with the price barriers above $0.31 as it is failing to trade above $0.32. The coin is already below its previous major support level near $0.32, which now poses as its upcoming resistance level.

Ripple Price Prediction & Technical Indicator:

MACD chart for the XRP coin is moving in bearish zone and it just had a bearish crossover. RSI for XRP/USD is at 30 pointing out to its oversold momentum. Ripple price may see further resistance levels at $0.3298 and $0.3374 and support levels at $0.3163 and $0.3104.


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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