Price Analysis

XRP Forms Double-top With a Close Above $0.31; ETH Pulls-back Below $190

  • Ripple price has returned to its price range around $0.30
  • XRP has formed a notable upswing above $0.31 recently, with a double top
  • Ethereum has also traded below $190, as it approaches support level near $188
  • ETH’s technicals are about to enter a bit negative zone

Ripple and Ethereum, the top-most altcoins, have been pacing up with the current uptrend in the crypto market for a week. However, today, morning price moves of both the coins have been a bit bearish as they have pulled back strongly.

XRP to USD Price Chart                                                             

Yesterday, after trading stably between $0.29 and $0.30 without any sharp move, Ripple took a steep escalation to $0.3137 and then corrected down to $0.03079 before closing the day. Today, the XRP coin has again crossed the price barriers above $0.30 and went as high as $0.3137, forming a double top pattern. However, the coin couldn’t fight the resistance above it and has returned to $0.3016 at 04:45:07 UTC.

Ripple Price
XRP Chart By TradingView

ETH to USD Price Chart                                                             

To a certain extent, Ethereum has resonated with Ripple’s price trend as after today’s pullback, ETH has lost a price position from above $190. After yesterday’s surge above $193, Ethereum price gradually tumbled to $188, where it found a support level. The foremost altcoin started a strong uptrend before closing at $191.59. Today, ETH has again hit the price mark above $192.25 with a spike followed by a rapid pullback to $188. Right now, the coin is uplifting from there and is trading at $189.30 at 04:31:29 UTC.

Ethereum Price
ETH Chart By TradingView

Technical Indicators:

ETH’s technicals are giving mixed signals at this point in time, considering the recent price correction. The long term SMA line has just crossed above the short term SMA line while the MACD chart is heading for a bearish cross-over. RSI indicator is just below 50, noting a stable momentum. Ethereum is likely to meet resistance near $ 0.3045, $ 0.3078, and $0.3111 and support levels at $0.2979, $0.2946, and $0.2913.

Regarding Ripple, the MACD chart is yet to see the bearish cross-over, and RSI is, again, below 50, noting a stable sentiment. XRP coin may face resistance at $193.87, $196.15, and $198.75, and support levels at $188.99, $186.39, and $184.11.

Tags

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.

Related Articles

Back to top button
Close