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Price Analysis

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.

Ripple

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:

Ripple Price Prediction
Ripple Price Chart by TradingView

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.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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