Price Analysis

Ripple (XRP) Bullish Trend Indicates Stability for Future

  • Ripple (XRP) breaches the resistance level 1 at $0.277
  • The price is expected to draw profit by the end of the day

Ripple price is taking the high road. The last couple of days have been quite extraordinary of the coin. In the last quarter, Ripple was seen moving along Ethereum and Bitcoin. However, in recent days, Ripple is seen booking profit despite the fluctuating market. The currency seems unaffected by the movement in Bitcoin.

Yesterday, Ripple was seen touching a high at $ 0.278960 and a low at $ 0.271074. The volume was at marked as $ 1,100,066,310. Let’s have a look at the price chart.

XRP Price Analysis:

XRP Price chart

Ripple was dealing at $316 on August 1, 2019. The price jumped from $0.316 to $0.330 by 2.33%. The coin fell immediately to $0.238 by 28.28%. The recovery took it back to $0.290 by 22.70%. The month closed at $0.260 by 18.10% fall. The last month began with a moderate movement around $0.260. The escalation took the price to $0.326 by 24.46%. The price couldn’t hold itself and fell to $0.213 by 34.71%. The last few days recorded hike. The price moved from $0.213 to $0.261 by 22.82%. In October, the price has moved from $0.261 to $0.288 by 10.60%. The current price us at $0.279.

Ripple has been moving up since the beginning of the day. As per the record, the currency has breached the resistance level at $0.277 and moving ahead to cross $0.282 in some hours. There is strong speculation that it would break the R3 level by the end of the day at $0.285.

If the coin somehow comes under the pressure, the support level 1 at $0.269 would help Ripple (XRP). Further, S2 at $0.266 and S3 at $0.261 could aid the coin.

Ripple holds a strong position in the market. The currency is recommended for long-term investment. The specified period would bring the maximum return on the investment.

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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.
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