Price Analysis

Ripple Price Analysis: XRP Price Scenario Shows Improvement; Seeks Stability Above $0.32

  • Ripple rebounds, trades between $0.31 to $0.32
  • XRP saw strong support near $0.3043, after a fall 
  • Week-long bearishness seems to be taking a pause, as Bitcoin’s recent bull-run impacts

XRP finally sees a bright day as the coin has started to trace an uptrend after quite a bearish week. Since 12:55 UTC yesterday, XRP is trading bullishly against U.S. Dollar. The positive price move is largely due to Bitcoin’s recent and strong price recovery above $10,500. (link)

XRP was as low as its price range around $0.29 to $0.30 till yesterday. But the coin saw a notable price surge after witnessing a fall near $0.3043. The coin surged to $0.3267 with an increase of 7.40% within only 2 hours and 51 minutes.

XRP/USD Price Chart:

Ripple Price Chart
Ripple Price Chart

However, after that, the coin traces a bearish trendline while remaining above $0.32. At present, XRP is struggling to trade stably above $0.32, as the coin is facing resistance above $0.31. At 06:22:10 UTC, XRP was trading at $0.3185 with an increase of 2.51% over the last 24 hours.

Ripple’s current price is still 17.93% lower than its 30-days SMA of $0.3881. This shows that the coin may take a bit longer to emerge with full recovery.

Ripple Price Prediction & Technical Analysis:

The MACD chart for XRP is quite lowly volatile and also it has traced a bearish crossover. RSI for the coin is at 40 showing no extremities. The coin is likely to see major resistance at $0.3309 and $0.3386. Though a price plunge can take it to the support levels at $0.311 and $0.2988.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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