- Ripple resumes yesterday’s price recovery, but is still below $0.26
- XRP faces hurdles above $0.2580; bears to blame
- The 3-month chart appears depressive, esp. for investors, as XRP has seen a significant downward shift.
- The price level near $0.25 has been acting as strong support for Ripple since the last seven days.
Ripple price was heading towards the crucial support level of $0.25 yesterday, but it started a rebound journey before closing on the day. From its low swing near $0.2545, the coin managed to reach near $0.2563.
Today, continuing the rebound, the coin has sustained an uptrend. Compared to yesterday’s low swing, XRP price has gained by more than 1% near $0.2581. Seeing a rejection there, Ripple saw a downward correction below $0.256 and then bounced up to $0.2576.
XRP/USD Intraday Price Chart
Considering an investor’s perspective, the 3-month chart paints a gloomy picture for Ripple. With a strong bearish trendline, the coin had fallen from above $0.47 to $0.29. After that, it has extended the sluggish trend and has broken below major support levels of $0.28 and $0.26.
Ripple 3-Month Price Chart
Technical Indicators of the intraday chart are gearing up for bullish zone, as the SMA lines are heading up for a bullish crossover. RSI is above the transition zone near 60. And MACD has just entered the bullish phase with MACD line above the signal line.
Ripple may face resistance at $0.2596, $0.2630 and $0.2654, while, its support levels can be at $ 0.2539, $0.2515, and $0.2482.