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.
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.
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.
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