- XRP is Stuck in the $0.22 to $0.25 Range as it has Been for the Past Few Weeks
- Despite the Intense Bearish Pressure at this Level, Analysts Believe that the Token will Retest the $0.2700 Level Soon
XRP Price Prediction – The XRP price action of the last few weeks is the simple definition of a bear market. Despite the recovery in the price of Bitcoin BTC, the XRP token has failed to move above the resistance at $0.2500 and will most likely keep declining against the USD near-term, or will it? There is reason to believe that the XRP token might not be out of the woods yet but there is also evidence pointing to the token surging to the $0.2700 level. One analyst said that the XRP token has a chance to rise as long as it stays above the $0.2400 level. For this to happen, the token must hold the line and gather bullish momentum above $0.2500.
At the time of writing, the price of the XRP token was $0.2490365. It was up by 2.79% against the USD and up by 3.55% against Bitcoin BTC. The trading volume over a 24 hour period was $2,392,663,468 and the market capitalization was $11,277,028,223. There is a lot of bullish momentum in the $0.2450 and $0.2500 level. XRP will most likely move above this $0.2500 level before the end of this year. The token already reached a weekly high at the $0.2580 level. It moved above the 100 hourly simple moving average. Even if the XRP token is correcting higher, it took a dip back to the $0.2480 level but the support at $0.2450 held the line preventing lower lows.
XRP (XRP) Price Today – XRP / USD
The technical indicators show that the bears are losing momentum. At the time of writing, the relative strength index is moving toward the 60 levels and the MACD is gaining bullish momentum according to the XRP price analysis on NewsBtc. This analysis predicts that a fall below the $0.2475 support will take the XRP token lower against the USD but as long as the $0.2459 level holds, it will not fall to the $0.2440 support. The analyst believes that the token will not fall lower as long as it doesn’t lose that $0.2440 support.
While the XRP token is now moving above the $0.2500 level, it still has a long way to go before it can get to the bullish territory at $0.2700. The token must move above the resistance at $0.2540 level. If the token manages to rise above this level, it will face another resistance at $0.2580 and eventually $0.2620 before it can test $0.2700.