fbpx
Price Analysis

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.

XRP/USD

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.

Tags
Show More

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.

Related Articles

Back to top button