Price Analysis

Ripple Price Analysis: XRP Again Goes Bearish After the Notable Price Spike

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  • Ripple still goes bearish
  • The 5-day chart of XRP indicates a downturn in price
  • RSI for XRP/USD is between 40 to 50
  • In the last 5 days, Ripple has decreased to 2.32%.

After strongly bearish impact, yesterday XRP saw a notable rise in its price after it jumped with a price spike reaching as high as 0.43 USD price point, after ranging between 0.38 USD to 0.40 USD. However, even after the price spike, Ripple again seems bearish.

Ripple’s 5-day price chart shows a strong price decline. On 2nd June, the Ripple price was trading at 0.43 USD with a bull-run approach. Which then rose to 0.46 USD followed by a gradual price decline. From 3rd June, the XRP price shows a downward shift in its price.

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Current Statistics:

At 11:31:45 UTC, XRP price was standing at 0.42 USD. It has 17,681,394,967 USD in its Market Capitalization with 42,238,947,941 XRP as its Circulating Supply. Ripple offers ROI of 7,026.58%.

Ripple Price Chart:

Ripple Price Chart

Comparison:

On 3rd June, XRP took a steep price drop and reached at 0.40 USD, which is where the MACD chart indicates a downward swing. XRP even bottomed at 0.39 USD after that. The coin could not come up with price recovery until yesterday when it has touched the price point of 0.43 USD. However, since the price slump on 3rd June, XRP has rebound to 12.46% but in the last 5 days, the coin has decreased to 2.32%.

Technical Indicators:

  • RSI for XRP/USD is currently between 40 to 50, indicating stability.
  • MACD also appears pretty bearish, accept the recent price spike shown in the chart

Ripple (XRP)

The technical indicator featured above describes a real-time rating for a week. The indicator hints that the investors are currently inclined to ‘BUY’ the XRP tokens.

Conclusion:

After the recent price spike, the crypto-coin was expected to take a long-lasting price surge. But, looking at the current scenario for XRP price, it will take a bit longer to come up with a strong upward shift in its price path. If XRP goes for a higher price spike, it may see resistance at 0.45 USD.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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