Ripple Price Analysis: XRP Shows a Slight Increase, Still Hovering Around $0.25

  • Ripple has recently traced mild price recovery, though yet to cross $0.26
  • XRP has tested a support level at $0.2531, has rebounded with more than 1%
  • Ripple has faced a rejection above $0.2567, currently correcting down

Ripple price has been carrying a bearish pressure since quite some time now, as it has not been able to trade even above $30 for the last 20 days. Moreover, Bitcoin has been trading under $10,000 near $9,500 zone since the last couple of days.

At 07:30 UTC, price of Ripple was trading at $0.2548 which then took a drop at $0.2531. The coin found a support level there and attempted to strike a rebound. The coin could surge only till $0.2567 as it faced a rejection above it. Here it has noted an increase of 1.42%.

Ripple Price Analysis: XRP Shows a Slight Increase, Still Hovering Around $0.25

XRP is currently pulling back from there and is at $0.2556, which is at-least above from where it started 4 hours ago.

XRP/USD

Ripple Price Chart
Ripple Price Chart

The technical indicators here are yet to give any sure-shot positive sign collectively. As the coin is a bit below its 5-day SMA but is notably down as compared to its 50-day SMA.

Ripple Price Analysis: XRP Shows a Slight Increase, Still Hovering Around $0.25

Also, Ripple’s long term SMA line is above its short term SMA line. It is to be noted that XRP price is hovering around its key support level of $0.2500.

Ripple Technical Indicators:

MACD for Ripple price is having a bearish crossover at the moment while RSI of XRP/USD is near 50, showing a stable momentum. XRP price may see resistance at $0.262, $0.2671, and $0.2731. While it can find support levels at $0.2509, $0.2449, and $0.2398.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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