Price Analysis

Ripple (XRP) Witnesses Intense Bearish Slip; Trades Towards Key Support Levels

Ripple has stopped the massive price fall in November end after it formed a lower low at $0.20. The leading altcoin calls for a price boost as it lacks momentum. The investors are eagerly waiting for a rapid price rally, which can again take the XRP coin above $0.40. Notably, a similar kind of price rise had taken place earlier this year (May-June).

Ripple Price Prediction

XRP price is currently down considering its 3-month price trend, as it is not much above its lowest price level at $0.20. Ripple price was trading above $0.25 around three months ago and was bullish enough to surge above $0.30. Now comes the massive price decline, which has impacted the XRP coin to quite an extent. The price drop of more than 28% took the Ripple price to $0.22 within six days. However, the coin managed to strike a price recovery as the coin could reach above $0.30 again, but the $0.31 price mark remained intact.

Ripple News
XRP Chart By TradingView

Meanwhile, XRP coin formed a dip at $0.2682 before it started another price fall as part of pullback. Ripple formed a lower low at $0.20 in the previous month before starting the current sluggish rebound.

According to the chart, SMA lines are heading to the bearish crossover indicating a negative price move. RSI is at 52, showing a stable phase while MACD is set to enter the bullish zone with its MACD line on the upside. Notably, the coin is under 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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