Price Analysis

Ripple (XRP) is Back with Bulls; Reclaims $0.30 Post Corrections

  • Ripple saw a steady rise over a day, correcting down at present
  • XRP meets hurdles above $0.30; $0.29 poses as a support level
  • The coin has recently formed a bearish trend line while attempting to stay above $0.30

Ripple price trend has portrayed a downward correction today after witnessing yesterday’s price shoot up above $0.30. currently, the coin is struggling to stay afloat above $0.30. Meanwhile, Bitcoin price is ranging around $9300, which was above $9400 yesterday.

XRP opened yesterday on a mild positive note and it kept trading around $0.29 for the better part of the day. The coin rose significantly post 19:00 UTC, and it managed to climb above $0.30 before closing on the day. XRP to USD noted an increase of more than 3.74% hitting $0.3043 price mark.

However, since then, Ripple price has been dropping while tracing a bearish trend line. The coin recently found support near $0.2964 to strike a rebound again. At 11:16:20 UTC, XRP price has managed to reclaim $0.3001, but apparently, lacks stability.

XRP Price Prediction:

XRP to USD Price Chart
XRP Price Chart by TradingView

The short-term SMA line is pretty much above the long term SMA line, showing the current bullish trend. MACD is in the bearish zone, but the MACD line is above the Signal line, noting a positive sign. As shown in the chart, RSI is just above 50, indicating a stable phase.

Ripple is likely to see resistance levels at $0.3029, and $0.306, if it continues to surge, while it may see support levels at $0.2938, $0.2878 with a drop.

Tags

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.
Back to top button
Close