Ripple Price Analysis: XRP Approaches Bottom, Hits New 30-Day Low
- Ripple goes extremely bearish, trading even below $0.34 since yesterday
- XRP faces a dip even below $0.32, tested support near $0.31, before having yesterday’s closing price at $0.3303
- Since today morning, the coin has been ranging between $0.32 to $0.33
- Bitcoin is also moving towards lows, with 6.66% of decline over a day
Ripple is currently facing hurdles against U.S Dollar and trading with a strong bearish impact. XRP seems to be affected to quite an extent due to Bitcoin’s recent and intense pullback below $12k.
Yesterday, Ripple coin had its opening price above $0.36 and it saw a sharp price fall from there to as low as $0.3210 with a decrease of 11.70%. It took an upward correction at $0.3343 and remained above $0.33 for some hours.
At 16:21 UTC, the coin faced price turbulence around $0.32 and then bottomed even below $0.32 where it tested the support level at $0.3189. After correcting up, XRP kept hovering between $0.32 to $0.33 till now.
XRP/USD 1-Day Price Chart by TradingView
In the last 24 hours, XRP has experienced a price decline of 11.41%, as it is trading at $0.3218 at 04:08:44 UTC. With a strong selling pressure, Ripple has traced notably bearish price trend since yesterday. The coin is, at present, 22.12% lower as compared to its 50 days SMA.
Ripple price is currently holding its range above $0.32 after testing key support level above $0.31. The coin is already below quite a few major support levels such as $0.38 and $0.35 which are now posing as upcoming resistance levels.
Technical Indicators:
MACD chart is in a bearish zone and just had a bullish crossover. RSI for XRP/USD is at 40 showing no extremities in its price momentum. XRP is likely to see resistance at $0.3550 and $0.3796 and its possible support levels can be $0.3143 and $0.2982.
