Price Analysis

Ripple Price Analysis: XRP Shows Two Contradictory Price Trends Within the Last 5 Days

Ripple has finally made its mark as it has crossed 0.40 USD and reached 0.41 USD price mark today. However, Currently, XRP is trading around 0.40 USD. XRP was failing to touch 0.41 USD price point for the last 3 days. The recent move of Ripple price can be hopeful for the investors, noting how XRP had been bearish for the last few days.

Crypto analysts also suggest that the recent price hike of the major cryptocurrency, XRP along with other cryptos is probably due to Bitcoin’s uptrend. Notably, BTC has recently crossed the 8100 USD price mark.

Current Statistics of Ripple:

At 04:54:13 UTC, XRP was trading at 0.40 USD. Ripple, the third largest cryptocurrency holds 17,185,208,490 USD as Market Capitalization along with 42,501,950,124 XRP as its Circulating Supply. XRP fetches Return on Investment (RoI) of 6,783.73%.

XRP Price Chart:

Ripple Price Chart

Comparison:

As we can see in the chart, XRP sees a steady decline of 12% in its price till 9th June, where it drops sharply to 0.37 USD from 0.42 USD. After a gradual rebound, XRP then takes a sharp surge from 0.38 USD to 0.40 USD with an increase of 3.97%.

However, after this surge, XRP kept falling with a bearish impact in its price trend. It has been struggling to rebound but, it is only today when it has reached 0.41 USD. Ripple is currently pulled back to 0.40 USD. In the last 5 days, XRP has seen a decrease of 4.76%.

Prediction and Conclusion:

If XRP moves upward, which it is likely to, considering the recent surge, it will face initial resistance at 0.41 USD looking at the Fib retracement. Ripple is currently trading above the 50% Fib retracement level. Another resistance level in the XRP price trend seems to be at 0.42 USD. If the XRP price takes a plunge, it will see support levels at 0.39 USD and 0.38 USD.

Tags

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.
Event Information
Event Information
Back to top button