Ripple Price Analysis: XRP Manifests Two Major Extremities Over the Last 24 Hours
- XRP price touched $0.49 before hitting the bottom below $0.45
- Ripple tested the critical support level near $0.44 twice
- XRP coin struggling to stay above $0.46
- Ripple is currently facing major resistance above $0.45
As compared to the last few days, XRP price is currently bearish against U.S Dollar. Also, Bitcoin has come down below $13k today, after yesterday’s surge as high as $13,796.49.
Yesterday, after ranging between $0.46 to $0.47, XRP gradually surged to $0.4916 and was anticipated to reach $0.5 price mark. Though it pulled back near $0.48 and again rose to $0.4941. After a downward correction, it again saw a price spike at $0.4888. From here, it broke major support levels of $0.46 and $0.45 and bottomed at $0.4447. From its high point of $0.4941, it has marked a decrease of 10%. After an upward correction, XRP had its closing price at $0.4682.
However, today, XRP has again traded below $0.46 and is struggling to surpass the resistance above $0.45. It has recently broken a critical support level near $0.45, and at 06:27:05 UTC, Ripple price is at $0.4494. In the last 24 hours, Ripple has seen a price decline of 4.48%.
XRP/USD 1-Day Price Chart by TradingView
The current price of Ripple is 4.01% down as compared to yesterday’s closing price. Since yesterday, XRP price scenario appears quite bearish as XRP has even traded below its 10-day SMA of 0.4502.
Crypto analysts are anticipating further price drop in Ripple coin as it has tumbled below quite a few major support levels. XRP is already below $0.45, a dip below $0.42 can invite further price fall.
Technical Indicator
This recent and major price fall seems to have impacted the market. The technical indicator for XRP has shifted to SELL phase looking at its tumbling price. The MACD chart for Ripple appears less volatile and indicates its current bearish nature. Also, RSI for XRP/USD has reached even below 25, which points out that XRP is currently in the ‘oversold’ phase.
XRP is likely to see support levels at $0.4457 and $0.4365 if the price sees a further drop. Though if it makes an upward move, Ripple will see one of the resistance levels at $0.4792.
