Ripple price analysis shows that the XRP is struggling below $0.28. However, XRP price could drop towards the $0.25 support before rising again to $0.30 resistance.
Last week, the price Ripple (XRP) was trading in a bullish trend zone. XRP bulls pushed the price from the $26 and $28 resistance levels. However, XRP bulls failed to continue the uptrend towards the $0.30 level. As a result, Ripple price dropped strongly below the $0.28 and $27 level.
Finally, the XRP price broke the $0.26 support level and a low was formed near $0.25 level. However, at the time of writing this Ripple price analysis, the coin is changing hands at the $0.27 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 struggling below $0.2805 and $0.2850. Therefore, it could dip a few points in the short term, but it is likely to bounce back as long as it is above $0.2585.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
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