Price Analysis

Ripple Price Analysis: XRP Extends Yesterday’s Rebound, Uplifts From $0.28

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  • XRP has breached yesterday’s bearish price momentum at 17:38 UTC; the coin is maintaining an uptrend
  • Ripple found a support level near $0.28, has managed to climb above $0.30
  • Since today morning, a bullish trendline has been formed, the coin is more than 4% up as compared to yesterday’s low price point of $0.2897

Since the later part of yesterday, Ripple price has been trading with a mild bullish vibe against the U.S Dollar. Moreover, Bitcoin has corrected down from its price above $11910 to $11859.07.

Yesterday, the price of Ripple coin opened with its price at $0.3075 and it dropped from there heavily. At 10:36 UTC, the Ripple coin tried to surge from its initial support level of $0.2959 but it could not trade above $0.30. Extending the fall, XRP coin hit the bottom at $0.2897, which is where it has found decent support.

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After an upward correction, Ripple price reached as high as $0.2973 while having a closing price. Also, the coin has maintained an uptrend today and has even traded to $0.3023 with an increase of 4.37% from $0.2897. Currently, XRP is trading at $0.3025 at 4:43:35 UTC.

XRP/USD Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

Ripple’s current price is 18.55% lower than its 100-day SMA of $0.3714. XRP price is just below its 5-day SMA of $0.3053.

XRP price has formed a support level near $0.2897 while the recently formed bullish trendline is also anticipated to act as a support level in the coming days.

Ripple Price Prediction & Technical Indicators:

Ripple coin may face initial resistance at $0.3059 and support at $0.2909. MACD for the coin is volatile enough and it had a bearish crossover in the bullish zone. RSI of XRP/USD is above 40, indicating a stable momentum at present.

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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