Ripple price has declined to the support of $0.25 after failing to regain bullish momentum above the $0.26 resistance level.
Yesterday, September 13, the price of Ripple (XRP) was consolidating and has continued this trend for the past two days. This week, the bulls attempted to break above the $0.26 resistance level but were resisted. As a result, Ripple price started to decline to the $0.25 critical support level. The crypto’s price is still trading below the 12 and 26-day Exponential Moving Averages (EMAs). In our previous analysis, we assumed that the price of XRP might likely fall because it was trading below the EMAs.
On the downside, if the $0.25 support gets weak, XRP price would slide to a new monthly low at $0.24 price level. On the upside, if more buyers emerge, the price will retest the $0.26 price level. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero lines which indicates a sell signal.
On the 1-hour chart, XRPUSD price is in a sideways trend as buyers and sellers are currently indecisive. Today, the crypto’s price is trading at the $0.25514 price level and after the bulls were resisted. Meanwhile, the MACD line and the signal line are below the zero lines which indicate a sell signal. The Relative Strength Index (RSI) is currently struggling to climb above the 50 range. Both indicators indicates that Ripple price will continue with the sideways trend in the coming sessions.
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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