Ripple Price Analysis: XRP Trades at $0.33, Even Below Its Major Support Levels
XRP long with its major coins such as Bitcoin and Ethereum tried gaining momentum in the past 3 days when Bitcoin and Ethereum went beyond $13,000 and $310 respectively. But, inevitable to note that, XRP couldn’t really make enough leaps and bounces and kept ranging around $0.40. Today, the market seems to deteriorate with Bitcoin, Ethereum and XRP trading at $11,500, $271 and $0.33 respectively.
In the last 3 days, Bitcoin and Ethereum had manifested a great price bounce, breaking their major resistance levels and trading beyond. While XRP couldn’t really match the pace of the two. However, today, when the market plummeted, it caused a major impact on the price change of XRP in comparison to the other two coins. XRP fell by 15.28% in the past 24 hours while Bitcoin and Ethereum crashed by 11.11% and 12.47% respectively.
The current statistics of XRP highlight the falling strides that it took the coin to trade around $0.33.
XRP Price Chart:
XRP Current Market Statistics:
- XRP is currently trading at $0.33 at 7:02 UTC as on July 11.
- The Market Cap of the coin is $14,303,504,786.
- The 24h volume of the coin is $2,579,196,329 with a circulating supply of 42,566,596,173 XRP.
- XRP currently fetches 5,591.08% Return on Investment (ROI).
XRP to USD Price Comparison:
As observed from the above 24-hour chart, XRP has faced a great fall from $0.39 to current trading at $0.33, showing an aggregate fall of 15.38%. This took place in descending levels when the price first fell from $0.39 at 14:08 UTC to $0.34 at 15:16 UTC, yesterday. This led to a 12.8% decrease within a momentary movement of the coin. It then maintained a steady pace until 2:17 UTC as on 11th July, when the coin again mounted to $0.36 just to fall again at 0.31 around 4:28 UTC. This embarked 13.88% fall from the latter price. Currently, the coin has shown a slight improvement and is trading at $0.33.
Technical Indicators:
The 9-day Moving Average shows a brief change at two price points where the coin fell from $0.39 to $0.34 and $0.36 to $0.31.
The MACD of the coin appears to be negative due to its extreme fall off. The coin price did no justice to its major support level near $0.39 and almost went near to $0.30.
This manifests a bearish crossover. The coin shows a selling signal so that the investors go short with their XRP investments or have a number for stop loss, else the current market would dampen the traders of their profits.
XRP Price Prediction and Conclusion:
It’s been quite a few days that XRP has been unable to accelerate its momentum over $0.40 and today sinks even lower than that. However, if it gains a specific pace and surges from the current trading price, it may face a major resistance and support at $0.40 and $0.30 respectively.
Intraday traders to have put option with their investments in XRP until the coin makes a bounce back.
