Price Analysis

Ripple Price Analysis: XRP’s Price Recovery Faces Hurdles; Struggling to Stay Above $0.33

  • Ripple price is currently seeking stability above $0.33 after the coin saw a major fall from $0.3336 yesterday morning
  • XRP’s price recovery was breached near $0.3418, dropped by 5.82%
  • Ripple price rebounded as it found support at $0.3219

XRP has slowly started to move upwards against the U.S Dollar yesterday after its fall near $0.32. Though the coin is currently failing to climb above $0.33 with stability. Meanwhile, Bitcoin is trading with its price above $10600, after an upward correction from $10400.

In the last 5 days, Ripple coin has traced a bullish trendline except for a price plunge near $0.32. The coin had surged from $0.2977 to $0.3417 gradually within 4 days, as during those days, Bitcoin also had reclaimed its price position above $10,000. Here, $0.30 and $0.31 are the price levels where XRP coin found major support levels.

However, on 20th July, XRP price dropped by 5.82% from its price above $0.34. After tracing a bearish trend line here, the coin found support at $0.3219 to strike a rebound. XRP has corrected upward from there and is currently trading between $0.32 to $0.33. Ripple is currently trading at $0.3300 at UTC, with an increase of 10.84% over the last 5 days.

XRP/USD Price Chart By TradingView

Ripple Price Chart
Ripple Price Chart

Ripple coin price has just climbed above its 5-day SMA but is 12.28% lower than its 30 day SMA. At present, the coin is trading with Selling pressure.

Over the last 5 days, XRP has witnessed major support levels at $0.297, $0.3075 and $0.3121 as the coin has rebounded notably from these price points. After a recent rebound from $0.3219, the coin is battling with price barriers above $0.33.

Ripple Price Prediction & Technical Indicators:

RSI for XRP/USD is at 50 indicating stable momentum in its price path. MACD for the coin is moderately volatile and it just had a bearish cross over. Ripple coin may see major resistance levels at $0.337 and $0.3426 and major support levels at $0.3245 and $0.3176.

Tags

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.
Back to top button
Close