In today’s Ripple price analysis, XRP is trading below $0.30. However, the price must climb back above $0.30 to resume a fresh increase in the coming session.
After a sharp rally, the price Ripple (XRP) tested the $0.34 and $0.35 resistance levels. However, XRP bulls failed to continue the uptrend above $0.35. As a result, Ripple price dropped strongly below the $0.30 support level.
Finally, the XRP price broke the $0.28 support level and a low was formed near $0.26 level. However, at the time of writing this Ripple price analysis, the coin is consolidating losses above the $0.28 level.
On the upside, if more buyers emerge, the coin will face resistance at the $0.29 and $0.30 price levels. On the downside, an immediate support is near the $0.27. If the price fails to stay above the $0.27 support level, the crypto’s price will drop to the levels of $0.26 and $0.25.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, the XRP price is struggling at the $0.283 level. In the short term, there could be a minor decline or a correction, but the price is likely to rise again as long as it is above $0.2780.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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.
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