Ripple Price Analysis: XRP Initiates Price Recovery, Hurdles Are On the Way

  • Ripple coin finally witnesses its much-awaited upward price movement
  • XRP price has just corrected down from its price level above $0.34; before which it had maintained its price range above $0.34
  • Despite striking an uptrend, XRP faces major hurdles
  • The Ripple coin may take quite a time to fully come out of the bearish impact as it is still below $0.35

Ripple price has started to move upwards against U.S Dollar at a slow pace since yesterday. Till yesterday, XRP had seen major losses as the price came down notably. Meanwhile, BTC price is holding its price above $11500 against U.S Dollar.

Yesterday, XRP initially dropped to $0.3201 and from here it took a steady rebound to $0.3514 with an increase of 9.78%. It corrected down to $0.3443 and since then Ripple coin has maintained its price range until now when it has again traded below $0.3400. Meanwhile, the price has traced a bearish trend line.

At 04:12:18 UTC, XRP was trading with its price at $0.3374. In the last 24 hours, Ripple has increased by 2.14%.

XRP/USD Price Chart By TradingView

Ripple Price Chart
Ripple Price Chart

XRP’s current price, at present, is 17.96% lower as compared to its 30-days SMA of $0.4113. The last two day’s price scenario of Ripple has put the crypto-coin under selling pressure.

XRP is currently struggling to clear strong resistance prices above $0.33 and $0.34. The coin needs to reach above $0.35 with stability to avoid further price falls.

Ripple Price Prediction With Technical Indicators

The MACD chart appears moderately volatile but is in the bearish zone. Also, its MACD line is below the Signal line indicating a downward price move. The RSI for XRP is around 40 manifesting a bit oversold impact. Ripple may see further resistance at $0.3548 and $0.3655 and its possible support levels may be at $0.3283 and $0.3125.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

Related Articles

Back to top button