XRP’s two-day chart manifests an impressive price escalation of more than 9.18%, while today’s price path has carved a downward correction. The coin is performing with its utmost form for the last couple of days as the coin has maintained notable stability above $0.25 after it saw a surge yesterday.
Ripple Price Analysis
On the last Saturday, the coin kept ranging between $0.2380 to $0.2400. The XRP price trend formed a low swing, and it closed a bit higher near $0.2420. The next day, it started trading with a correction, and it went a bit below its support level of $0.2380.
The coin tested the support level at $0.2366 and then rebounded sharply. The power-packed price recovery ushered the Ripple price above $0.2580 with a hike of 9.18% yesterday. In the later half of the day, XRP chose to correct down with moderate price fluctuation.
Today, the coin has tried to hit the price range above $0.2580 but couldn’t as it faced rejection above $0.2560. Despite corrections, it has formed a bullish trendline recently.
It is to be noted that the MACD indicator of the coin is in a bearish zone with its MACD line on the downside. This shows that the coin may move downwards to test support levels below $0.25.
Today’s price approach has been all about corrections for XRP. The coin went as high as $0.2562 in the morning and then heftily corrected down to $0.2501. The coin is currently struggling to recover fully, to the extent that it is yet to even touch the 50% Fib level according to the chart.
Considering the current lack of momentum in its price trend, Ripple cryptocurrency may trade below $0.2500. In this chart, technicals are not giving any positive signals. Bollinger bands are widening, which shows that the coin will be volatile soon. While RSI is in the oversold zone, moving averages are also bearish after it had a cross-over in the morning.