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Price Analysis

Ripple (XRP) Price Analysis: XRP/USD Struggles to Remain Above $0.47

  • Ripple price rallied above $0.47 yesterday
  • XRP/USD moves up to cross major resistance above $0.46
  • Today, over the last 4 hours, XRP coin returns back to $0.46 price range near its key support level
  • Ripple is currently correcting upwards after reaching as low as 0.465

Yesterday’s price surge of XRP against U.S Dollar has turned out into a downward price trend after today’s daybreak. Yesterday, Ripple had maintained a steady uptrend enabling it to trade above $0.47.

The 4-hour price chart of Ripple features two major price falls. Yesterday, before having its closing price, Ripple coin rose above $0.47 and knocked its closing price at 0.4700. The crypto coin today opened with its price at $0.4727 and it surged to touch $0.4756 price mark.

However, the Ripple price nosedived after this at $0.4691 with a decrease of 1.35%. Correcting upwards, it maintained its price range above $0.47 till around 3:15 UTC, while tracing a bearish trend line. With a strong support level at $0.4655, XRP has initiated its price recovery as it is heading to cross $0.47. At 04:04:59 UTC, XRP price was trading at $0.4672.

XRP/USD 4-Hour Price Chart by TradingView

Ripple Price Chart

Even after such price turbulence since this morning, XRP’s current price is 9.61% higher than its 30-day SMA of $0.4261. The fact that XRP price is leading as compared to its overall scenario indicates to the bullish impact in the price trend.

After the recent price fall, it seems, XRP coin is struggling to maintain its price range above $0.47. XRP needs to step out from the narrow price range near $0.46. Also, the price range above $0.46, at present, seems to be a strong price barrier for Ripple.

Ripple Price Prediction With Technical Indicators:

RSI for XRP/USD stands at 50, which is moving upwards at present, it indicates an upcoming overbought phase for Ripple coin. MACD appears bullish too, as the MACD line is above the signal line. XRP may see major resistance prices at $0.4773 and $0.4847, while major support levels can be at $0.4573  and $0.4447.

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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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