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Price Analysis

Ripple Price Analysis: XRP Slowly Increasing From Lows Against the USD

  • XRP price slowly recovers after falling below 0.40 USD.
  • Ripple price broke the support level at 0.38 USD.
  • RSI for XRP/USD is at 60.
  • Ripple currently shows a stable momentum.

After witnessing a prolonged bearish trend, yesterday, Ripple price further dropped below 0.40 USD and had its 7-day low price. However, the leading crypto-coin has started its price recovery at a slow pace.

Also, a Bitcoin expert, Max Keiser has recently opined that as Facebook has announced the launch of GlobalCoin (or Libra), other altcoins including Ripple will be on a tough spot.

Ripple Price Current Statistics:

At 04:46:56 UTC, Ripple price was standing at 0.39 USD. XRP holds 16,487,790,508 USD as its market capitalization with its Circulating Supply of 42,238,947,941 XRP. Ripple offers RoI (Return on Investment) of 6,545.49%.

XRP Price Chart:

Ripple price chart

 

Comparison:

Ripple kicked off yesterday with its trading price at 0.41 USD and it maintained its range there until it saw a sharp price drop. XRP price saw a fall as low as 0.37 USD breaking its support level at 0.38 USD. From there, XRP price slowly started to recover and reached 0.39 USD price mark. Here, Ripple has traced an Inverse Head and Shoulders pattern as highlighted in the chart above which indicates that XRP price is likely to head upwards. In the last 24 hours, XRP has seen a price decline of 4.87%.

XRP Technical Indicators:

  • According to MACD Chart, XRP doesn’t appear volatile.
  • RSI for XRP/USD currently stands at 60, hinting at upcoming overbought momentum for Ripple.

Ripple (XRP)

  • The technical indicator shown here gives a real-time rating for a day and it is pointing out to the ‘BUY’ momentum for Ripple looking at its low prices at present.

Prediction and Conclusion:

As the XRP price has already begun an upward movement, the price may set one of its resistance level at 0.40 USD, if it continues to surge. Ripple has recently hit its 7-day low price mark, though if we look at its journey since January 2019, Ripple price has emerged with notable price surges.

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Ruti Vora

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

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