The entire cryptocurrency market has been on a downtrend for a long time now. In fact, the downtrend intensified during the BCH network upgrade. Bitcoin fell as low at $3500 and a lot of people were worried about the fate of the market. At that time, XRP was trading in green when other cryptocurrencies were trading in red. It was up by over 7% against the USD. Unfortunately, its bullish rally was short-lived. There has been a lot of inconsistency in the cryptocurrency market. The price and market capitalization of XRP is still down thanks to the price correction that was ignited a yesterday after the minor recovery attempt.
XRP (XRP) Price Analysis
On an hourly basis, the price of XRP is in range between $0.40 and $0.35. There is strong resistance at $0.37 and $0.40. The most crucial support is at $0.33. If the price of XRP falls below this level, it may pave a way for more dip in price toward $0.25.
The Aroon Indicator is currently indicating a bearish exhaustion of both the down and up line. The Aroon down and Aroon up lines are both moving towards the bottom. This shows that a price reversal might be on the way. The Parabolic SAR shows that there is a downtrend at this time. The price action is negative. The Awesome Oscillator is $14,490,654,604 and red lines have formed below the zero line. Notwithstanding, the trend is unpredictable because the green and red bars are visible at the same time. This means that there might be a bullish pressure in the market soon.
On a daily basis, the price of XRP is ranging between $0.85, $0.55 and $0.35. There is a significant resistance at $0.69. With support at $0.26, there is an uptrend from $0.26 to $0.36. The Bollinger Bands has created a wide path to show that there will be an increase in the price volatility of XRP soon. The one hour MACD is in the bearish territory with the signal line moving downwards. There is also a strong indication of a downtrend in the histogram.
XRP (XRP) Price Today – XRP / USD
The relative strength index is in the oversold region but it is trying to recover to against the bears. The bottom line is that most of the price indicators are in favor of the bears. Only the Bollinger band is showing signs of high volatility in the market.
XRP (XRP) Price Now
At the time of writing, XRP was trading in red against the USD at $0.359326. This means that it is down by 6.52% against the USD and up by 1.27% against Bitcoin (BTC). The trading volume over a 24 hour period is $557,713,880 and the market capitalization is $14,490,654,604. The next few days of trading will determine if the price action will change.