Ripple Price Analysis: XRP Struggles to Make a Move Above Resistances

XRP had started a price recovery since today morning after it saw major price plunge yesterday. XRP price trend was pretty bearish yesterday, as it faced two notable price falls, causing it to reach as low as $0.39, twice in a single day. 

However, today, correcting upward, XRP has been maintaining its price range above $0.40. The crypto coin since then is failing to surge above $0.41. Crypto analysts suggest that, in order to step out of the bearish impact, XRP needs to steadily trade above $0.42.

Current Statistics:

At 11:04:56 UTC, XRP was trading at $0.4078 while having a market capitalization of $17,284,795,053. Ripple holds 42,566,596,173 XRP as part of its circulating supply. Moreover, XRP fetches RoI (Return on Investment) of 6,813.11%.

XRP 7-Hour Price Chart




Over the last 7 hours, XRP has lost its price position which was above $0.41. Initially, the coin has increased from $0.4102 to $0.4123, after which it has gradually dropped to $0.4030 with a decrease of 2.23%. Since then, XRP price has been trading between $0.4024 to $0.4095. In the last 7 hours, XRP has decreased to 1.51%.

Ripple Price Prediction with Technical Indicators

If XRP manages to trade above $0.41, it may face resistance at $0.4182 and $0.44. However, with a further price drop, it can see support level at $0.3855 and $0.3746. 

Additionally, the MACD chart for XRP appears moderately volatile but is currently in the bearish zone. Though the MACD line is above the Signal line indicating a price surge. RSI for XRP is just below 50 showing no extremities.

Ruti Vora

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

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