Ripple Price Analysis: XRP Strongly Possessed by Bears, Recently Broke Below $0.30
- Ripple price is correcting up from 0.30, currently above $0.31
- Today, the coin has even hit the bottom at $0.2980
- In the last 5 days, XRP has witnessed massive losses as the coin is as down as 20.94%
XRP is bearish to quite an extent against U.S. Dollar as it is trading with its price near $0.31 which is not so far from its 90-day low price. XRP’s price recovery at present seems difficult and time taking as the Ripple coin is much below its previous key support levels.
Ripple, in the last 5-days, has seen a steady price decline. It was initially trading at its price above $0.39, from where it gradually reached as low as $0.3202 breaking major support near $0.35. It corrected up at $0.3373 and even struggled to stay above $0.34.
However, after that, XRP coin hovered between $0.32 and $0.33 till yesterday at 9:50 UTC. It dropped further and had its closing price at $0.3064. Today the Ripple coin has even broken major support of $0.30 and traced a low swing at $0.2980 before correcting up.
XRP/USD Price Chart by TradingView
At 03:52:58 UTC, XRP price was trading at $0.3121, which is 22.82% lower than its 30-days SMA of $0.4044. Due to such low price scenario, Ripple coin is currently under selling pressure.
Till today, the price level near $0.30 had been a strong support level. Though now XRP seems vulnerable as the coin is correcting up after going below $0.30.
Ripple Price Prediction & Technical Indicators:
MACD chart appears largely bearish with no volatility in its price trend, though the MACD line is above the Signal line showing a bullish price move. The RSI for XRP is at 50 with no extremities. Ripple may see further resistance at $0.3257 and $0.345 and Support levels at $0.2962 and $0.286.
