Price Analysis

Ripple Price Analysis: Despite Gradual Momentum in its Price, XRP Still Struggles to Break $0.40 Price Mark

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  • Turbulence noticed in XRP price trend
  • XRP is Currently trading at 0.39 USD
  • RSI for XRP/USD appears between 45 to 50
  • Reaches even below 0.40 USD over last 24-hour time span

Yesterday, XRP broke its major resistance at 0.40 and reached 0.41 USD, due to which crypto believers were anticipating a bull run for the third largest cryptocurrency. However, it is not likely to happen that soon as the crypto-coin has again tumbled and even bottomed to 0.39 USD.

Since last few days, Bitcoin has also been quite bullish and it has maintained its price range over 8100 USD. It seems Bitcoin’s bull run is yet to make an impact over XRP’s price trend.

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Current Statistics:

At 11:31:30 UTC, XRP is trading at 0.39 USD. Having 42,501,950,124 XRP in its Circulating Supply, Ripple holds 16,976,675,147 USD as its Market capitalization. Ripple currently gives 6,700.20% of RoI (Return on Investment).

Ripple Price Chart:

Ripple price Chart

Comparison:

Yesterday, as shown initially in the chart, XRP surged to 0.41 USD from 0.40 USD after which it saw a gradual pullback. The crypto coin since then has not shown any price rebound and in the highlighted part XRP shows an oscillation between 0.40 USD and 0.39 USD. XRP was holding the price point of 0.40 till today when the price has further dropped to 0.39 USD and has not recovered from there. In the last 24 hours, XRP has shown a price decline of 2.5%.

Technical Indicators:

  • RSI for XRP/USD appears between 45 to 50
  • The MACD chart shows the XRP price momentum with a bit of volatility, despite which it is not taking a price surge

Ripple (XRP)

  • The technical indicator that shows current impulse for Ripple indicates to the ‘SELL’   momentum. The indicator shows the result for a time span of 1-day.

Conclusion:

Instead of surging higher from the strong resistance of 0.40 USD, XRP has fallen further. The crypto coin, in this case, is expected to see support levels at 0.398 USD, 0.395 USD and 0.391 USD. Though if XRP takes its much-awaited price spike then it will see resistance at  0.4054 USD and 0.413 USD.

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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