Ripple Price Analysis: XRP Price Returns to $0.27, Are Bulls Leaving the Coin?
- Ripple price was about to fall as low as $0.26 but bounced back from $0.2701
- XRP bulls are apparently heading for a pause, price trend taps on a bearish momentum
- Ripple seems to have support above $0.27, correcting up at present
- XRP price has traced a bearish trendline over a day, remains under selling pressure
Yesterday morning, Ripple price was bullish enough to trade above $0.29 against the U.S Dollar, but today the coin is tracing a heavily bearish price path. Even when Bitcoin price had a remarkable surge above $10,900, XRP coin was lagging back as far as its price trend is concerned.
Ripple coin had its opening price at $0.2822 and it even surged above $0.29 at 07:11 UTC yesterday. XRP, after that, had a pullback which caused it to trade at around $0.28. In the later part of the day, the leading altcoin even dropped to $0.2772 and traded around it till it closed with a surge at $0.2833. here the coin has marked its first lower high swing.
Since today morning, Ripple price has been heavily dropping and, in fact, it was quite close to break the support level of $0.27, while it has also marked another lower high. The coin has found support at $0.2701 and is correcting up from there. At 11:53:32 UTC, XRP is trading at $0.2748.
XRP/USD Price Chart by TradingView
Price of Ripple is pretty much below its 50-day SMA and is also hovering around its 5-day SMA. However, XRP’s short term SMA line has just climbed above its long term SMA line, which points out to a bullish price move.
XRP price is currently holding onto its key support level near $0.27, and a dip below the price level can invite further price loss. The coin is already trading under prolonged bearish pressure.
Ripple Price Prediction & Technical Indicators:
MACD chart of XRP/USD is volatile enough and is in bullish zone. RSI for the coin is near 70 which shows its over-bought phase. Ripple may face resistance at $0.2887 and $0.2941 and support at $ 0.2729 and $0.2675. Visit here today to know more about Ripple coin price prediction.