- Ripple XRP’s Technical Indicators Turn Red Despite Possible Surge in Price
- XRP Price Analysis Believe that the Token Will Rise in Price But the Surge Will be Capped Upside
- Lower Lows Will Lead the XRP Token to the Support at $0.2293
XRP Price Prediction – Since the beginning of the day, the XRP token has fallen by more than 5% against the USD moving below the support at $0.2380. While the technical indicators show that the token might recover higher against the USD in the next few days, the upside surge will be capped at a resistance soon. The token is consolidating its losses and trading in a range between the $0.2440 and $0.2380 levels. The token lost support at the $0.2440 level and is now struggling to hold the line at the $0.2380 level to avoid moving lower against the USD.
XRP Price Prediction 2020 – Ripple XRP Analysis
At the time of writing, the price of the XRP token was $0.231379. It is down by 2.13% against the USD and down by 1.16% against Bitcoin BTC. The trading volume over a 24 hour period was $2,015,981,950 and the market capitalization was $10,434,591,223. The token is below the 100 hourly simple moving average and there is a contracting triangle that has formed resistance around the $0.2335 level. There is a lot of selling pressure for XRP around the $$0.2380 to $0.2400 range.
According to analysts, the token must break the ice at the $0.2400 level if it is to move above resistance at the $0.2440 level. The token is declining at a fast pace but it isn’t the only altcoin that is currently bearish. Following Bitcoin’s lead, other altcoins are also bearish against the USD. At the time of writing, the price of Bitcoin BTC was $10,467.35. This means that it is up by 1.48% against the USD. As the XRP token fell earlier today, it moved below the $0.2293 marking a new low for the week.
XRP (XRP) Price Today – XRP / USD
If the XRP token corrects higher, it might move above the resistance at the $0.2380 level. The 50% fib retracement level of the last fall from the $0.2477 surge to the $0.2293 low acted as resistance preventing higher highs. Still, the key resistance near-term is at the $0.2440 pivot level. The MACD is moving to the bullish level and the relative strength index has just started correcting higher above level 50. So, even if the Ripple XRP token is currently trading in red, there is a strong chance that an upward surge will start even if it will be capped at the immediate $0.2440 level.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.