Price Analysis

Ripple (XRP) Seems Stuck Around $0.1720 Despite a Surge of 7%

Once again, XRP coin saw a surge yesterday morning, and it has not traded below $0.1700 for even a single time. This shows how the altcoin is yearning for a stable trading session. Ripple, being the second most leading altcoin, has responded well to the Bitcoin’s price movements.

Over a day, Bitcoin price has escalated from $5872 with the intention of recovery; however, the recovery has faced hurdles a little earlier at $6500, limiting its surge. Similarly, XRP rebounded above $0.17 over less than a day, but couldn’t even form a single close near $0.18. This shows how bulls hold a loose grip over XRP’s price trend right now.

Ripple Price Prediction

XRP coin saw an opening yesterday at $0.1627. It has been declining for more than a day till yesterday, and as it found a support at $0.1627, it started a rebound journey. The steady and not so lasting recovery reached as high as $0.1752 a few hours before closing the day. Here, it was a rise of 7.69%.

XRP News
XRP/USD Chart By TradingView

Since then, the Ripple price has been consolidating without any major fluctuation. The coin is limiting its price trend between a very narrow range of $0.1720 to $0.1731. Now, this can get traders a bit worried as the coin is known to fall into the range-bound spell easily triggering a sluggish phase.

XRP has just formed a bullish candle above the 200-day EMA line showing a mildly positive sign for now. Moreover, moving averages are also in the positive zone while holding a bullish MACD indicator. RSI seems stable at 54, showing no extremities for the coin.

Tags

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.

Related Articles

Back to top button
Close