- Ripple has breached the bullish trendline today, which it has been forming since the last two days
- XRP has just formed a bullish rebounding candle; forms support at $0.2179
- The coin has remained above the Fib retracement level of 38.20% till now.
- Technical indicators give mixed signals while the coin carries a selling pressure
Ripple (XRP) price has been consolidating for more than a day now as it struck a strong rebound on November 25. The coin, at the time, managed to climb above $0.2233, the 0% level of the Fib retracement.
Ripple Price Prediction
XRP coin formed a major low swing at $0.2049 after around a month-long price decline. Here, as the coin saw a decent support level, it struck a remarkable price recovery and cleared resistance levels at $0.21. Ripple hit the price mark at $0.2233, with an increase of 8.97%. Since then, the coin has been consolidating except for a few plunges near $0.2153.
It is today when the coin has again traded above $0.22. however, XRP price has corrected down from there and is trading at $0.2194 (just below the Fib retracement level of 22.60%) at 04:49 UTC.
Bollinger bands are set to enter the volatile zone as the bands appear widened. Also, the short-term SMA line is above the long-term SMA line, noting a positive sign. RSI is heading up and is at 45, showing no extremities as of now. However, the MACD chart indicates a negative sign, with its MACD line below the signal line.
Ripple is likely to see resistance at $0.2252, $0.2284, and $0.2335 while its support levels stand at $0.2169, $0.2118, and $0.2086.