Price Analysis

XRP Starts the Day on a Mild Bullish Note Though Bears Can’t Be Ignored

Finmax
  • XRP has declined by almost 50% this month; the coin is struggling to stay above $0.14 since the last few days
  • Ripple tested support level at its yearly low price point recently when the whole market tumbled
  • Today, XRP coin has shown some stable momentum; however, it faced rejection above $0.1511
  • At present, the currency is consolidating at $0.1470; over the last week, it has faced two major price falls

While the woes related to Coronavirus have been affecting the world since the last few months, the crypto market got trapped in the same with scarring intensity in the last 2 weeks only. Although the market was anyway not holding any roaringly bullish approach since mid-February.

XRP Price Prediction

Ripple opened on March 1 with a mild bullish approach at $0.2295. Over a week, the price reached above $0.24, and here, its price rally stopped. The coin gradually reached $0.20, and then it bottomed way below its crucial support levels amid the market crash.

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Ripple News
XRP/USD Chart By TradingView

After it reached as low as $0.12, XRP price has stopped dipping further and has managed a weak rebound near $0.14 till now. At present, Bollinger bands are showing a moderate volatile phase with a bullish MACD.

XRP News

On the other hand, today’s price chart seems a bit bullish as it has hit the price mark of $0.15 with a hike of 6.74%. The coin has corrected down a bit at $0.1470 recently. Notably, XRP’s short-term SMA line has just climbed above the long-term SMA line as it has formed a bullish crossover. Even the 200-day EMA line is a bit below the price trend of Ripple noting a positive sign.

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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