Ripple price is trading at the $0.25 support level and likely to climb higher once it clears the $0.26 resistance level.
Yesterday, the price of Ripple (XRP) was in a bearish trend while trading below the 12 and 26-day Exponential Moving Averages (EMAs). It started the downward trend on June 23 after the bulls met resistance at the $0.46 price level. The price of XRP continued to plummet and has been trading between the levels of $0.26 and $0.28 for the past week. At the time of writing, Ripple price is trading at the $0.25 support level, an area where the price is expected to make a bottom.
On the upside, if more buyers emerge, the price will retest the $0.26 level and could accelerate gains towards the $0.27 and $0.28 levels. On the downside, if the price breaks below the $0.25 level, it may lead to a serious bearish sentiment , pulling the market back to the August low.
In the meantime, 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, XRPUSD price is in a bearish trend. The price of XRPUSD is still trading below the EMAs. More then two occasions, the bulls made attempted to break above $0.26 resistance level, but they were resisted. There is a breakout pattern now forming on the chart with resistance near the $0.26 and if this level is broken, the price is likely to climb higher sharply.
In the meantime, the MACD line and the signal line are below the zero line which indicates a sell signal.
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