Ripple Takes the First Step Towards Recovery; Trades Around 0.24 USD

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  • Ripple gains almost 4% from yesterday’s lowest point to the current price; now hovers around 0.24 USD.
  • The next resistance may come at 0.2519 USD.

Ripple has been able to stand a little after previous days of disastrous falls. Over the last 24 hours, it has managed to gather 4%, and the current value of XRP has risen to 0.2418 USD. The price swings have given a range of 0.2490 USD and 0.2325 USD in this period.

Ripple Price Analysis:

Ripple (XRP) faced its first variation between 01:47 UTC and 08:32 UTC, in these 6 hours and 45 minutes, it lost 0.0121 USD to touch 0.2325 USD. However, the next step of Ripple brought some level of comfort with a hike of 7.10%; it could scale its value to 0.2490 USD, the highest point for the day.  The last variation starts at 16:02 UTC, and it weakened over the next 3 hours to reach 0.2408 USD by 19:12 UTC. Towards the closing of the day, XRP has been showing a downward trend, and the current value is hovering around 0.24 USD.

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Ripple Price
Ripple Chart By TradingView

Though Ripple has started recovery, it may not last long. Its current price is in constant conflict with the 20 days and 50 days moving averages, and in most cases, it is below the line. Therefore, the recovery can’t be expected in the current situation.

Resistance and Support Levels:

R1- $0.251966667, R2- $0.257492333, R3- $ 0.266022667

S1- $0.237910667, S2- $0.229380333, S3- $0.223854667

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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