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