Ripple price analysis shows that the XRP is under bearish pressure at $0.13 amid the sell-off on the crypto market. Will the downtrend continue?
Ripple Price Medium-term Trend
Last week, the price of Ripple (XRP) declined sharply from well above $0.19. XRP price broke many key supports near the $0.18 and $0.16 support levels to enter a bearish zone.
Moreover, the price traded as low as $0.11 and recently started an upside correction. At the time of writing this Ripple price analysis, the coin is trading at the $0.13 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 pair declined this morning to $0.1283 before correcting upward to $0.1379. While the pair is still under selling pressure, the price of XRPUSD may decline to $0.1280 (intraday low). A sustainable move below this level will open up the way to $0.1129, which is the recent low reached on March 13.
Meanwhile, the MACD line and the signal line are above the below line which indicates a sell signal.
- Resistance Levels: $0.14, $0.16, $0.18
- Support Levels: $0.13, $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.