Price Analysis

Ripple Price Analysis: XRP Holds Above $0.31; can Take a Fresh Increase if Avoids Drop

  • XRP maintains its price range above $0.31
  • Ripple price is stable above the support level of 0.31, after yesterday’s upward correction from $0.2956
  • The 1-day chart of XRP traces an uptrend, can go for a steady surge if it avoids any price fall

Ripple price has started an upward price movement against U.S Dollar recently after it had tumbled near $0.29. The Ripple coin has been witnessing a strong bearish price trend since around a week and the recent upward correction has caused the market to expect a fresh increase in XRP’s price.

XRP bearishly opened at 0.3065 yesterday and even hit the bottom at $0.2986 having its 30 Day low price. Here, the Ripple bounced up and reached above $0.31. XRP price also rose to $0.3219 from $0.2986 with an increase of 9.09%, though later it pulled back to $0.3183.

Meanwhile, the coin traded down near $0.30 thrice and corrected up above $0.31 each time. Currently, the coin is trading at $0.3141, at 04:49:20 UTC with stability.

XRP/USD Price Chart by TradingView:

Ripple Price Chart
Ripple Price Chart by TradingView

Ripple’s current price is 21.61% lower than its 30-days SMA of $0.4007, indicating that the XRP coin is far away from leaving the bears behind. Its price is even below the 5-Days SMA of Ripple coin, and due to the sluggish price trend, it is trading with Selling pressure for a week.

XRP has recently climbed above its major support level of $0.31, meanwhile, over the last 1 day, $0.30 has acted as a strong support level.

Ripple Price Prediction & Technical Indicators:

MACD indicator shows a recent bullish crossover with not much volatility. RSI for XRP/USD is around 60 showing a stable momentum. XRP may see major resistance at $0.3251 and $0.335, and major support levels are likely to be at $0.302 and $0.2888.

Tags

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.
Event Information
Event Information
Back to top button