Price Analysis

XRP Bulls Remain Above $0.22 Despite Corrections

Sustained Bull-run or One More Illusion?

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  • The year to date price path of XRP coin traces a correction wave; the altcoin is way below the highest price point of 2020
  • The price is still below the 200-day EMA line despite the recent recovery; Notably, the recent bullishness of the market has also not been able to push the coin even near the $0.30 price level
  • While Bitcoin price went above $9900, XRP attempted to make a few strides above $0.23

After Coronavirus hit the crypto market, pushing it off the cliff, this is the first time where Bitcoin is re-approaching the 10k price mark. On the other hand, XRP is witnessing a limited growth, i.e., way below $0.30. However, the crypto believers, especially for XRP, are ready to wait apparently.

Ripple Price Analysis

The infamous pandemic that is still nowhere near to under control had affected the global economies along with the crypto market. Over the past two months, the XRP price dropped from $0.33 to $0.14. The coin also had witnessed a few dips below that with a hefty decline of 57%.

Ripple News
XRP/USD Chart By TradingView

From here, the currency tried to step out of the bearish zone, of course, with a few yet major barriers. The partial price recovery managed the Ripple price to usher above $0.22, but even after a 60% recovery, the coin is trading below the EMA line. Here, XRP’s MACD indicator is heading towards a bearish crossover.

XRP News

The one-day chart of XRP/USD shows a 4.60% price rise, followed by corrections. These pullbacks may take the price below $0.2200 soon. Ripple is currently crossing the 61.80% Fib level with a negative bias while moving averages are in a bullish zone for the short-term.

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.

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