Ripple price analysis shows that the XRP is recovering from the $0.22 support level. However, XRP price is now facing resistance at the $0.24 and it must surpass that level for a fresh rally to $0.30.
Ripple Price Medium-term Trend
After failing to break above the $0.24 resistance level, the price Ripple (XRP) started to decline. As a result, the bears pulled the price from the $0.23 to $0.22 support level.
However, at the time of writing this Ripple price analysis, the coin is recovering and trading at the $0.23 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
XRPUSD Price Short-term Trend
On the 1-hour chart, the XRP price is bearish. Therefore, it could dip a few points in the short term, but it is likely to bounce back as long as it is above $0.2350.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance Levels: $0.24, $0.25, $0.30
- Support Levels: $0.23, $0.22, $0.20
Author 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.