Price Analysis

Ripple Price Loses Traction and Exhibits 3% Regression

  • Ripple (XRP) price drops to $0.280

The whole crypto market is currently moving very hastily, and the same is creating chaos amongst the investors. The entire market is suffering since the third quarter. There was an anticipation that the last quarter would help the traders to recover from their losses, but already a month has passed, and the market is still showing no sign of improvement.

Ripple was seen booking profit a few days ago. However, from yesterday, the coin seems to be badly affected. The currency touched a high at $0.313278 and a low at $0.283395, yesterday. Now, let’s have a look at the intraday XRP Chart.

XRP/USD Price Analysis:

Yesterday, Ripple started dealing at $0.310, and the price spiked slightly to trade at $0.314 by 1.12%. Further, the coin slipped to $0.298 by 5.22%. The price of the coin kept falling and touched $0.297. Further, the currency touched $0.278 by 6.41%. There was slight improvement in the coin that took the price to $0.290 and closed at the same level. The intraday movement in the price registered a loss of 6.34%. Today, XRP is booking loss since the opening hour as the price has shifted to $0.277 from $0.290 by 4.75%.

XRP Price Chart
XRP Price Chart By TradingView

Ripple is considered as the most result-giving coin in the market. The market cap of the coin is currently at $12,203,980,013. The coin is anticipated to bring a positive change, but it might take some time. For intraday traders, the currency is not reflecting much scope. The price has already dropped below the immediate resistance level at $0.279. The other calculated resistance and support levels are as follows:

Resistance Level Price
R1$0.309341
R2$0.326251
R3$0.339224
Support Level Price
S1$0.279458
S2$0.266485
S3$0.249575

Ripple is usually recommended for long-term traders. However, we would suggest the traders to hold on for some time as the current scenario of the market is not suitable for investment.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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