Ripple Finds A Safety Net But The Storm Isn’t Over, What Hope Is There For XRP?

ripple xrp price analysis

The cryptocurrency market has been receiving some serious pounding over the last couple of weeks. Prices of virtually all major players dropped with some taking heavy losses. XRP price prediction showed that Ripple XRP price fell to below $0.29 last week and didn’t show any signs of picking up due to bearish pressure. Surprisingly, Ripple XRP picked up and steadily climbed to $0.31. It climbed above the resistance level but Ripple price analysis shows that the XRP needs to break the $0.3200 – $0.3230 mark. This may be hard work as the coin seems to be struggling at the mark. The price of Ripple XRP gained a slight advantage as bullish pressure fought to carry it over the resistance level.

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The rise in Ripple XRP price saw a break above the Fib retracement level of 23.6% it took off the last drop when the price fell from $0.3505 high to $0.2959 low. XRP price prediction show there will be a bullish struggle to rise above $0.3230 and also the 100 hourly SMA. Experts agree that should the price of XRP successfully remain above $0.3230, the price could get to $0.3500. Consequently, should the price be unable to rise above the $0.3200 to $0.3230, there will be a fall in the price of XRP. The decline could continue if the price falls below the support level of $0.3100. There is the possibility of a decline that could fall to below the 0.30 mark.

Ripple’s main platform, the Ripplenet offers a wide range of banking solutions, which are xRapid, xVia and xCurrent. These solutions cater to a bank to bank payments, XRP buying and selling and sending payments unidirectionally. Ripple’s numerous partnership include MoneyGram, MasterCard, Barkley’s, Satandar bank, Brazil’s The Front Exchange and Siam Commercial. Ripple has an average transaction fee that is the lowest in the cryptocurrency market.

According to Ripple news today, Ripple XRP is trading near the resistance level that is quite crucial for it. Rising above this level would mean that Ripple has been able to weather the storm that is bashing every coin in the cryptocurrency market. An inability to rise above this crucial resistance level would not speak well for the future of XRP. While it may not mean the doom of XRP, traders confidence would certainly take a battering and it would mean a more difficult time for Ripple XRP.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.272
-0.06%

Ripple price analysis shows that the hourly MACD of XRP would in all likelihood be in the bearish zone. This means that the XRP would have more work to rise above the mounting pressure. The Relative Strength Index RSI is directly below the 50 level mark. XRP major support levels are $0.3100 and $0.3000 while the major resistance levels are $0.3200 and $0.3230. An XRP price prediction currently favors. Bullish rise to see XRP rise above the resistance level. Should this happen, Ripple XRP may not be out of the woods but will be able to breathe a small sigh of relief.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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