Recent XRP price movements shows that it struggles against the US dollar, trading at a low under $0.2950 and $0.2920 support levels. Ripple’s XRP is now valued at $0.300457 USD.
Compared to other cryptocurrencies, XRP hasn’t been able to escape the bearish trend line. Let’s see what will happen to Ripple’s XRP in the coming days.
Price Analysis – Ripple (XRP)
Looking at the charts provided by Trading View, the XRP price follows a declining trend. Although it started with an upward move yesterday, it then declined under the $0.3000 support and the 100 hourly simple moving average.
The price recorded a new low, trading at $0.2913. At the time of writing, the price is going upwards, at $0.300738. It has a market cap of $12,671,086,758 USD, with a 24-hour volume of $964,777,009 USD.
The moving averages and oscillators show a mixed pattern, noted Koin Alert in their price analysis.
Nearly all moving averages are in the sell pressure zone:
“Hull Moving Average (9) on a daily basis is 0.31253 which is in the sell pressure zone.
EMA (5, 10, 20, 30, 50, 100, 200) and SMA (5, 10, 20, 30, 50, 100, 200) all are in the indicating a sell pressure zone.”
Meanwhile, oscillators are showing the opposite:
“Relative Strength Index (14) among the oscillators are in between the buy and sell pressure zone. The value of RSI (14) on a daily basis is 45.14764
Stochastic RSI Fast (3, 3, 14, 14) is 73.32385 and is in the neutral zone.”
If the XRP price successfully breaks over $0.3000, the price could go over towards the $0.3040 and $0.3050 resistance levels. However, for now, Ripple’s XRP is in the bearish trap and will continue to be for a few more days.