Price Analysis

Ripple (XRP) Reverses the Trend; Fails to Stay Above $0.20 Mark

  • Ripple price manages to trade above $0.197 after the last 24 hours’ push of 2.54%
  • It seems like the bears take control over the coin
  • XRP/USD faces rejection above $0.202 again in a day
  • The coin may face short-term consolidation and trades around $0.186 in the upcoming hours

Ripple coin has not been spared from the overall gaining spree in the market. Over the last 24 hours, it has been swelled by 2.54%, and the value against USD has jacked up to 0.1978 USD.

Over the last week, the currency mostly trades around $0.18 till April 06, but then, XRP price marked impressive bullish move and continued to trade upwards and even crossed $0.20 mark in the next 24 hours. However, then it faced rejection and fell to $0.19 but again initiate recovery.

Ripple Price Analysis

XRP Price News
XRP/USD Chart By TradingView

Yesterday, the coin was trading at $0.1929 at the starting of the day, and over the next 6 hours, it was boomed by 5.13% and touched $0.2028, the highest point of the day. It was followed by a 3.94% price correction that cost the XRP coin $0.0080 and pulled the price down to $0.1948 by 10:47 UTC.

After hitting $0.1948, Ripple price marked moderate upside movement, and between 10:47 & 00:42 UTC, the currency gained 3.95% value and got pushed to $0.2025. However, the XRP price couldn’t remain at this high for long and started losing value again. Over the next 2 hours and 51 minutes, the price got trimmed by 2.02% and got confined to $0.1984.

Ripple’s current value at $0.1978 has been trading under the 20 days MA and 50 days MA with a marginal difference. MACD indicator shows bearish crossover. As per the current trend, XRP coin price might consolidate around $0.185 in the upcoming days. However, if the coin continues to trade upwards, the next resistance may come by $0.2042. Investors need to be ready to face a few unprecedented price swings in this period.

Resistance and Support Levels

R1- $0.2042, R2- $0.2077, R3- $0.2141

S1- $0.1944, S2- $0.1879, S3- $0.1845

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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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