Price Analysis

Ripple Price Analysis: XRP Again Instigates for a Rebound, Will it Sustain?

  • Ripple price gears up for a fresh increase while having support near $0.29
  • The coin has steadily surged above $0.31 while touching $0.32 price mark
  • XRP coin is currently correcting down from $0.3234
  • A stable increase above $0.3250 can invite further surge in its price trend

XRP price has recently started to show positive signs as it is moving upward against U.S. Dollar after facing extreme lows. BTC is still below $10000 but seems to have found support at $9200 price level.

XRP was pretty much bearish yesterday as it was correcting up from its previous price as low as $0.28, while having its opening price at $0.2967. The Ripple coin gradually climbed above the price barrier of $0.30 and then maintained a steady surge to $0.3234 with an increase of 9.11%.

Ripple coin has corrected down to $0.3193 after that and since then it has remained above $0.30. At 04:07:19 UTC, XRP is trading at $0.3120 striking an increase of 5.15% over the last 24 hours.

XRP/USD 1-Day Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

Ripple’s current price is 20.34% lower than its 30-day SMA of $0.3917, though the coin at present is just above its 5-day SMA. The price scenario points out that the Ripple coin is in an attempt to tap on a bullish trend.

XRP needs to exceed resistance near $0.3250 in order to continue its price recovery. Ripple price rebound can remain intact unless it faces a dip below $0.30.

Ripple Price Prediction & Technical Indicators:

The MACD chart is moderately volatile and is currently moving into the bullish zone with its MACD line above the signal line. RSI for the coin is near 50 showing no extremities. Ripple may see major resistance at $0.3236 and $0.3367 while having major support levels at $0.296 and $0.2815.

Tags

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.
Event Information
Event Information
Back to top button