- Ripple price has recently reached below its crucial support of $0.27; goes bearish over a day
- XRP has found support at $0.2627 for now; meekly rebounds
- Ripple coin has failed to reclaim $0.27, yet to even trade above $0.2660
- XRP carries string selling pressure, though technical picture appears positive
Ripple price has manifested a steady fall over a day and recently the altcoin has breached the key support level near $0.27 against U.S.Dollar. The recent and heavy price slump might have taken place due to Bitcoin’s pullback as BTC has traded below $10,200.
XRP had its opening price above $0.28 yesterday and it heavily dropped to $0.2758 till closing time. In the last 4 hours, Ripple has even dropped below $0.27 breaking its crucial support level. XRP coin saw bottom at $0.2627 with a decline of 2.92% from $0.2706.
Just before hitting the bottom, XRP price has traced a hammer candlestick pattern which indicates a reversal to the upside. Confirming that, XRP has started to recover, though, much mildly.
After an upward correction, Ripple is trading at $0.2651 with a price decline of 1.85% over the last 4 hours.
XRP Price Chart by Tradingview:
Ripple’s current price is 16.89% lower than its 50-day SMA of $ 0.3190. Also, XRP’s long-term SMA line (50-day) is currently above its short term SMA line (5-day), which indicates a bearish momentum. However, the SMA lines are heading for a crossover at the moment which can change the case.
After yesterday’s price drop from $0.28, XRP was largely dependent on the support level of $0.27, which has also been breached recently as the coin is hovering around $0.26.
Ripple Price Prediction & Technical Indicators:
MACD chart for Ripple coin is lowly volatile and is in a bearish zone with its MACD line above its Signal line, showing bullish price move. While RSI also appears stable as it just above 50. Ripple may face resistance at $0.2815 and $ 0.2873, and its support levels can be at $0.2717 and $0.2677.