Ripple Price Analysis: XRP’s Rebound Sees a Rejection Above $0.25

  • Ripple has recently broken support level of $0.25, formed a dip near $0.2485
  • XRP has corrected up from there, rebound sees hurdles
  • After a more than 1% of price recovery, XRP traces a bearish trendline
  • Technical Indicators show make or break situation for the coin

Ripple has recently uplifted from a price dip near $0.24 and is currently battling with resistance above $0.25 after an upward correction against U.S.Dollar. Meanwhile, Bitcoin price has managed to claim a price above $9500, after testing support levels at $9427.99.

Yesterday’s price plunge had pushed the Ripple price below $0.25 from above $0.26. After correction, XRP price has been trading above $0.25 since today morning except for a recent price plunge which took place in the last 4 hours. At 06:00 UTC, Ripple was at $0.2530 and initially slipped near $0.2514 before seeing the bottom at $0.2485. As XRP seems to have a support level there, it slowly rebounded from there.

Clearing resistance near $0.2500, XRP reached $0.2529 with an increase of 1.75%. However, after that, the coin has traced a bearish trendline. At 10:57:41 UTC, price of Ripple is trading at $0.2514, while is heading to discover further dips.


Ripple Price Chart
Ripple Price Chart

The coin is far from stepping out of the bearish impact as Ripple’s current price is just below its 5-day SMA along with its 50-day SMA. It is yet to cross the price barrier near $0.26 as it has seen resistance above $0.2530. Notably, XRP is trading under selling pressure.

Ripple Technical Indicators:  

Ripple’s MACD chart shows a fresh entry in the bearish zone while having its MACD line below the signal line. RSI of XRP/USD is below 50, showing no extremities. On the other hand, the SMA lines are heading for a bearish crossover.

If Ripple manages to trade above $0.2674 it may face further resistance levels at $0.2775, and $0.2847, while the coin may see support levels at $0.2429, $0.2328 and $0.2200. Apart from this, find more details about Ripple and its price prediction from us in our forecast section.

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.

Related Articles

Back to top button