Price Analysis

Ripple Tested Support Level near $0.26; Regains Stability above $0.27

  • Ripple has traced an impulse pattern over the last 4 hours
  • XRP coin has recently formed a bullish trendline though seems far away from $0.28 price mark
  • The technical indicators give a positive outlook while the coin is range-bound below $0.30 since long

Ripple is facing hardships these days to pace up its price as it is already below major support levels. Even though the chart shows volatility, XRP has crossed $0.31 price level for only once, in the last one month. The price plunge on November 7 caused S/R flip after which, its previous support levels are posing as current resistance levels. Bitcoin, on the other hand, is trading below $9000 since November 11.

4 hours ago, Ripple closed a bearish candle at $0.2717, and it tumbled further to $0.2712. From here, it struck a rise of 0.62% reaching $0.2729. The XRP coin again took a plunge followed by a rebound forming an impulse pattern. Meanwhile, it has traced a bullish trendline. Since then, the coin has been ranging between $0.2724 to $0.2727. At 11:59:41 UTC, Ripple is trading at $0.2776.

XRP/USD Price Chart

Ripple price
XRP Chart By TradingView

Ripple’s SMA lines are giving positive signs as its short term SMA line is above the long term SMA line. The RSI indicator is at 43, indicating stability. MACD chart is also a bit bullish as its MACD line is above the signal line.

The XRP coin is likely to see price barriers at $0.276, $0.2797, and $0.2823 while its support levels can be at $0.2697, $0.2671 and $0.2634.

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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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