- Ripple XRP’s Rise to the $0.26 Level Was Cut Short as the Token Faced Resistance and Found Support at the $0.24 Level
- Despite the Current Price of the Token, There is a Strong Chance that it Will Surge Again if it Moves Above the 100 Hourly SMA
- The 100 Hourly SMA is Currently at the Resistance at $0.2460
Ripple XRP Price Prediction – If you’ve been paying attention in the cryptocurrency market, you’d know that the XRP token has been one of the worst-performing cryptocurrencies on CoinMarketCap over the last few weeks. The token’s decline against the USD and Bitcoin BTC has been significant despite the bullish outlook XRP had earlier in the year. Now, the token is at a crossroads and short traders are watching carefully to see if it is time to sell or they should keep holding until further notice. Depending on what happens in the next few trading sessions, XRP could either enjoy brighter days ahead or lower lows below the current level.
At the time of writing, the price of the Ripple XRP token was $0.242915. This means that it is down by 3.45% against the USD and down by 1.79% against Bitcoin BTC. The trading volume over a 24 hour period was $1,885,740,362 and the market capitalization was $10,933,921,454. According to the XRP price analysis on NewsBTC, however, there is a strong chance that the token will become bullish right after or crosses a key level. Yesterday, the token tested the $0.2380 support after which it gathered the money required to recover against the USD. The analyst said that rise above the 100 hourly simple moving average will see the price of XRP testing higher highs near-term. The 100 hourly SMA also happens to be around the resistance at $0.2460 level.
The XRP price analysis is supported by the technical indicators. The MACD is bullish just like the relative strength index is moving above the 50 levels. The token has found support at $0.2440, $0.2460, and $0.2480. It has also found resistance at $0.2410, $0.2380, and $0.2300. It is crucial that XRP holds the line at $0.2300 to prevent lower lows to the $0.2250 level and below. If the token settles above the $0.2500 level, things will be better for the token and it will allow it to move higher near-term. The last brief bull run took the token as high as $0.2533 level but the resistance here was much and the token fell below the $0.2460 support. It remained at this level for a while but finally moved lower to its current level.
XRP (XRP) Price Today – XRP / USD
The XRP token has broken the 23.6% Fib retracement level of the last decline from $0.2533 to $0.2377. It is now close to the 50% fib retracement level of the last drop from $0.2533 to $0.2377. In the next few days of trading, we will find out if the XRP token will move higher or lower against the USD.