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.
Ripple Price Medium-term Trend
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.
XRPUSD Price Short-term Trend
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.
- Resistance Levels: $0.28, $0.30, $0.34
- Support Levels: $0.26, $0.25, $0.24
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.