Price Analysis

Ripple Price Analysis: XRP Fails to Sustain Price Recovery, Trades Below $0.30

  • Ripple’s price recovery brakes off, trades near $0.29
  • Yesterday XRP even went as down as $0.2842 and then corrected up
  • Even after the correction above $0.31, the coin has broken the key support near $0.30
  • Ripple needs to clear resistance near $0.30 and $0.31 to avoid further losses

Yesterday’s upward price trend of XRP coin has been obstructed as the Ripple coin has traded bearishly against U.S. Dollar after yesterday’s sharp price drop near $0.28. Meanwhile, Bitcoin price has also been witnessing a slump as it has dropped even below $10000 recently.

Yesterday, XRP was comparatively bullish looking at its weekly price scenario. The coin opened at $0.3151 and remained above $0.31 till 12:48 UTC. It then traded near $0.30 before correcting at $0.3106. Here it took a sharp price decline while breaking major support near $0.30 and $0.29. The Ripple price has hit its new low at $0.2842 with a decrease of 8.46%.

XRP rebounded from here and reached above $0.31 but couldn’t remain there and traded near $0.29. Since then the coin has not stepped above the price range of $0.29, as the coin is trading at $0.2990, at 03:59:14 UTC.

XRP/USD 1-Day Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

XRP’s current price is remarkably bearish as its current price is 25.84% lower as compared to its 50-days SMA of $0.4032. Also, the Ripple coin continues to trade with selling pressure.

Till yesterday, $0.30 price level has been strong support price which has recently turned into upcoming key resistance. XRP is currently vulnerable to further losses if it doesn’t trade above $0.30 and $0.31 with stability.

Ripple Price Prediction & Technical Indicators:

MACD chart shows no volatility while it just had a bullish crossover. RSI for XRP coin is at 75, which shows its overbought momentum for the coin. Ripple may see further resistance at $0.3142 and $0.3317 and support levels at $0.2852 and $0.2737.

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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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