Price Analysis

Ripple Price Analysis: XRP Hovers Around $0.30, Fresh Increase Awaited

Finmax
  • Ripple leaves $0.31 price range, manifests an extended fall
  • XRP dropped at $0.3061 and corrected up above $0.31
  • The coin again saw a stronger fall at $0.3039, currently struggling to rebound
  • The price range around $0.30 is expected to act as strong support for a fresh increase

Ripple has recently started its bearish price move against the U.S Dollar, as the coin has lost is price position above $0.31 and is struggling to trade above $0.30. If the coin fails to cross the price barriers above $0.30 and $0.31 again, further price loss can take place. Meanwhile, the BTC price is also heading downwards as the coin has tumbled near $9600.

Till yesterday, XRP’s price was above $0.31 while having a stable pace. The coin yesterday witnessed a steady downtrend with a bearish trendline, causing it to reach at $0.3061 where it found support. From here, XRP corrected up above $0.31 with an increase of 3.27%.

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The coin then pulled back at $0.3039 tracing a lower low. Since then, XRP has not been able to step above $0.307. At 04:19:35 UTC, XRP was trading at $0.3059.

XRP/USD Price Chart

XRP/USD Price Chart

XRP’s current price is 16.19% lower than its 30-day SMA of $0.3650 indicating to its current bearish trend. In the last 24 hours, the coin has decreased by 5.05%.

The coin has already breached the support level of $0.31 and it appears that the bearish trendline shown in the chart can pose as upcoming price barrier.

Ripple Price Prediction & Technical Indicators:

MACD chart for the coin appears volatile enough and it just had a bullish crossover. RSI for XRP/USD is near 50 showing no extremities in its price trend at the moment. XRP may see further resistance at $0.3189 and $0.328 and support levels at $0.3042 and $0.2986.

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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