Price Analysis

Ripple Price Analysis: XRP Fails to Clear Resistance Above $0.31, Trades Downwards

  • Ripple loses bullish impact, takes a mild yet steady bearish price move
  • XRP coin trades below $0.31, continues to head downwards
  • The Ripple coin has jumped up from the support level of $0.3057
  • Currently, XRP price is struggling to stay above $0.30

The Ripple price appears at a risk against the U.S Dollar at present as the coin is hovering around key support near $0.30. Moreover, Bitcoin also has been tracing a bearish price path since yesterday.

Yesterday morning, XRP had maintained a bit bullish sentiment in its price as the coin climbed above $0.3140 and even after a pullback, it remained above $0.31 till 06:13 UTC. Then the coin saw a bit of wavering between $0.30 and $0.31 while forming a bearish trendline.

Later, XRP broke major support near $0.3090 and dropped sharply at $0.3057 with a decline of 1.29%. Here the coin saw support to rebound at $0.3109 with an increase of 1.70%. Ripple price corrected down at $0.3087 and since then the coin is struggling to remain above $0.31.

In the last few hours, XRP has not been able to trade above $0.31. At 04:32:41 UTC, The coin was trading at $0.3078 after meeting support price at $0.3065.

XRP/USD Price Chart:

Ripple Price Chart
XRP Price Chart

Ripple is facing selling pressure and its current price is even below its 5-day SMA. the coin is 18.44% lower than its 50-day SMA of $0.3774.

XRP price is anticipated to strike a price recovery soon as the coin seems to have support level at $0.3065. However, the overall crypto market seems to be sluggish at the moment, so it is to be seen how Ripple price responds.

Ripple Price Prediction & Technical Indicators:

MACD chart for XRP coin is moderately volatile and it just had a bearish crossover. Alos RSI for the coin is near 40, indicating no extremities. Ripple may see further resistance at $0.3136 and $0.3166 and support at $0.305 and $0.302.

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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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