Ripple price analysis shows that the XRP might resume its decline if it fails to recover above the $0.16 and $0.18 resistance levels.
Ripple Price Medium-term Trend
Recently, the price of Ripple (XRP) dropped sharply from the $0.20 resistance level. XRP price declined more than 50% and broke many key supports near $0.18 and $0.16 to enter a medium-term downtrend.
Moreover, the decline was such that the price even broke the $0.15 and $0.12 support and a new multi-month low was formed near the $0.11 level. At the time of writing this Ripple price analysis, XRP is currently correcting higher and trading above the $0.14 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 XRPUSD price is bearish. The bears gained control of the market in the early hours of Saturday as the price dropped from $0.16 to $0.15. This followed a bullish Friday, wherein the price jumped from $0.13 to $0.16. The first support on the downside is near the $0.14 level. The main support is near the $0.12 level, below which the price could test the $0.10 level.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance Levels: $0.16, $0.18, $0.20
- Support Levels: $0.14, $0.12, $0.10
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.