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Price Analysis

Ripple Price Analysis: XRP Plays Around $0.26 Price Mark

Supports Levels for XRP are Gradually Shifting Higher

  • Ripple’s intraday price path shows positive signs, forms higher highs
  • XRP seems to have a support level above $0.2560, price range above $0.2580 is also expected to act as a decent support
  • Ripple is facing rejection beyond $0.2622 for the third straight day
  • SMA lines appear bullish, though the coin is carrying prolonged selling pressure

Ripple is aggressively making efforts to remain above $0.26 against U.S.Dollar. With Ripple lab’s upcoming conference, which is planned in October, rounds of speculations are giving hope to the investors that the said conference will cause the XRP price to jump above $0.3.

Price of Ripple opened yesterday above $0.26, saw an initial drop to $0.2567. Seeing support there, the coin jumped at $0.2629 with an increase of 2.36% but couldn’t go beyond. The downward correction traced a higher low near $0.2580 and then again started to trade higher.

XRP/USD Price Chart

Ripple Price Chart
Ripple Price Chart

Tracing a bullish trendline, XRP had a close near $0.2625. After a bit of consolidation there, the coin formed another higher low at $0.2599; recently, it has managed to reclaim $0.26. At 10:52:27 UTC, Ripple is trading at $0.2603.

Ripple 5-day Price Chart

Ripple 5-day Price Chart

Ripple has noted a remarkable price shift with a bullish bias over the last 5 days. The coin had dropped even below $0.2491, from where it surged with more than 6% to touch $0.2659. The coin since then has been tracing an impulse pattern till now, as it is attempting to stay above $0.26.

Ripple Technical Indicators

The short term SMA line has crossed above the long term SMA line, showing a positive sign. While, RSI indicator is below 50, showing no extremities and MACD is gearing up to leave bearish zone behind.

XRP coin may face resistance at $0.2629, $0.2662 and $0.2689, while it can meet support levels at $0.2569, $0.2542, and $0.2509.

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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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