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Price Analysis

Ripple Price Analysis: XRP Eyes $0.47 Price Mark to Strike Higher Price Spike

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  • Yesterday, XRP went as high as $0.47 but has been ranging between $0.46 to $0.47 today
  • In the 7-hour chart of XRP, the MACD for XRP appears bullish

Today morning’s price plunge has trimmed yesterday’s price gains made by XRP. Yesterday, XRP marked its closing price at $0.4700, and today, after the price fall, XRP has been hovering between $0.46 to $0.47. 

The price trend of Ripple currently seems to hold enough price volatility. XRP has not settled above $0.47 and is yet to clear resistance above $0.46.

Current Statistics: 

At 11:05:23 UTC, XRP was trading at $0.4699 while holding a Market capitalization of $20,058,960,236. Additionally, 42,566,596,173 XRP coins exist in the Circulating Supply of Ripple. XRP fetches RoI (Return on Investment) of 7,922.64%. 

XRP 7-Hours Price Chart

Ripple Price Chart

Comparison:

In its 7-Hours Price Chart, XRP has initially traced an impulse pattern while oscillating between $0.46 to $0.47. XRP has failed to maintain its price position above $0.47 despite crossing the price mark for quite a few times. Ending the impulse pattern, XRP struck an upswing where it reaches as high as $0.4715, and then it corrected down near $0.46. 

However, its current price is 17.29% higher as compared to XRP’s 50 days SMA of $0.4006. This indicates the bullish impact over the XRP’s price trend.

Conclusion:

XRP price is anticipated to see major resistance at $0.4773 and $0.4847 if it crosses $0.47 price mark. Major support levels for XRP can be at $0.4573 and $0.4447.

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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.
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