Price Analysis

Ripple Price Analysis: XRP Maintains Price Level at $0.42; Yet to Leave Bears Behind

eToro
  • Ripple yesterday had its Short term bullish moment
  • Currently, XRP is tracing a bearish pattern
  • RSI for XRP/USD appears above 50
  • The technical indicator shows a ‘BUY’ momentum for Ripple, with an inclination towards Neutral.

A new update regarding XRP adoption has come out in which Siam Commercial Bank (SCB), Thailand’s largest commercial bank has cleared its stand over deploying XRP tokens. In a recent statement, SCB has noted that they “have no plan on using XRP.” The bank had previously indicated through a now-deleted tweet that they will soon announce the XRP system.

The news has come at the time when XRP is going bearish after it saw a bullish impact for a while. The coin has not yet broken the level of 0.42 USD till now.

eToro Crypto

XRP Price Current Statistics:

At 04:22:30 UTC, Ripple was trading at 0.42 USD and its Market Capitalization is 17,753,007,458 USD. The Circulating Supply of XRP is 42,238,947,941 XRP while it offers ROI (Return on Investment) of 7,055.45%.

Ripple Price Chart:Ripple price chart

 

XRP Price Comparison:

A day ago, XRP was trading at 0.42 USD with stability. It gradually increased to 0.43 USD price mark. From the high point of 0.43 USD, Ripple has shown a price drop of 3.56% till now. Meanwhile, XRP had faced a strong price fall at 0.41 USD too.

Technical Indicator:

  • RSI for XRP/USD appears above 50, indicating stability in its price trend
  • MACD has shifted above the Signal line pointing out to an upward movement in price, though the XRP price trend appears bearish.

Ripple (XRP)

  • The technical indicator given above describes a real-time rating for a day. It points out to the ‘BUY’ momentum for Ripple, with an inclination towards Neutral.

Prediction and Conclusion:

It was 3rd June when the XRP price could reach 0.45 USD. After that, the currency has not crossed 0.43 USD price point. It seems, to strike a strong bull-run, XRP needs to exceed 0.45 USD resistance level. If XRP uplifts its price trend at a rapid pace, it is likely to cross 0.45 USD in the next couple of weeks.

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.

Related Articles

Back to top button