Price Analysis

Ripple (XRP) Sustains the Rebound; Targets $0.25 Price Mark

  • Ripple price has been trading around $0.22 since the day before yesterday
  • XRP coin seems to have a support level at $0.2138; records an increase of more than 7%
  • Technical indicators are set to enter the bullish zone including the SMA lines

It was on November 27 when the XRP coin price noted an escalation of more than 7% while trading above $0.22. Since then, the currency maintained its price above $0.22 with consolidation. Meanwhile, Bitcoin has also witnessed a price recovery above $7450.

Ripple Price Prediction:

Two days ago, Ripple started trading with its opening price at $0.2193 and took an initial upswing at $0.2239. The coin corrected down within a few hours and found support at $0.2138. Here, the XRP coin struck a remarkable price recovery and reached above $0.2295. It traced a pullback at $0.2258 before closing the day.

Yesterday, XRP coin kept consolidating for the whole day, except for a high spike up to $0.2298. Despite a downward correction before closing, the coin has remained above $0.22, proving its potential. Today, the currency has started forming bearish candles after a surge above $0.2267. At 04:46:48 UTC, Ripple price is trading at $0.2254, just below the Fib retracement level od 22.60%.

Ripple Price Chart
XRP/USD Price Chart by TradingView

SMA lines are giving positive signs since yesterday as its short-term SMA line is above the long-term SMA line. The Bollinger Bands indicate to the current volatile phase while heading towards a shrink. The RSI of XRP coin is at 46, showing no extremities, while MACD is heading towards a bullish crossover.

Ripple price trend apparently holds resistance levels at $0.2290, $0.2335, and $0.2360 and support levels at $0.2220, $0.2195 and $0.2150. Notably, the coin is still carrying a selling pressure.

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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.

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