Price Analysis

Ripple (XRP) Continues to Trade Around $0.26 for 2nd Day in a Row

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  • Ripple continues to trade around $0.26 in the past 24 hours.
  • XRP touched $0.270 just once in the early hours yesterday.
  • XRP price trades with a strong selling pressure at the moment.

Ripple’s current trading price is deep rooted with support from the short-term moving averages around $0.26. The coin needs to have a sharp bounce back in order to have a bullish sentiment. XRP had a last bullish crossover above $0.30 quite a while ago on 13th August. Since then the coin is seen below the said mark.

XRP to USD Price Chart by TradingView:

The below Ripple price chart is a data feed taken from Coinbase as on 28th August at 09:29 UTC.

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XRP Price
XRP Price Chart by TradingView

The 30 mins movement of the coin within the past 24-hours show that Ripple was trading at $0.2704 at the start of the day yesterday. Also, it started slipping in the early hours from $0.27 range to $0.26 and closed at $0.269 yesterday with a high at $0.271. The lowest in the said time frame has been $0.2645 at around 12:00 UTC. On the same day,  XRP price rose by 2.04% to trade around $0.2699. After having a leisure downward stride the coin is currently trading at $0.2663 having a 1.33% plunge from the trading price of $0.2699.

Technical Indicators:

The 5-day SMA ($0.26943) remains around the current trading price of XRP while the long-term moving average i.e. 100-day SMA is 25.69% distant from $0.2663.

The MACD of the Ripple price clearly shows a bearish crossover in the negative array with RSI ranging above 40 and away from the oversold region.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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