Price Analysis

Ripple’s Price Recovery Ushers It Above $0.21

  • 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.

Ripple Price
XRP Price Chart By TradingView

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.

Tags

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.

Related Articles

Back to top button
Close