Ripple (XRP) Price Likely To Recover With The Recent Upward Correction While ETH And BTC Are Facing Hurdles

ripple xrp price analysis

Ripple News Update- Due to the recent steady fall of Ripple, the price dropped against the US Dollar below the support levels at $0.3050 and $0.3000. After trading at a new monthly low of $0.2897, the crypto asset began an upside correction of its losses against the Us Dollar. Ripple Price Prediction points out that the price of Ripple (XRP) will continue to increase as long as it is above $0.2950.

Ripple News Today – XRP Price Prediction 2019 – XRP Price Prediction – Further Rise of XRP Price Expected

An analysis of the XRP chart showed the token price making an upward movement. Above the $0.2950 support area, the crypto asset is showing a few positive signs. However, the bulls can push the price higher if they gain traction above $0.3050 and $0.3075. XRP may witness a further drop towards $0.2900 or even $0.2840 if the bulls find it difficult to increase the price.

The technical indicators of XRP show the following statistics.

The current hourly Relative Strength Index, RSI for XRP/USD is above the 50% level.

The hourly MACD for XRP/USD is slowly heading into the bearish zone.

Major resistance levels for Ripple (XRP) are at $0.3050, $0.3075, and $0.3100

Major support levels for the XRP token are at $0.3000, $0.2950, and $0.2900

XRP Price Analysis- Ripple (XRP) may recover soon

The XRP/USD pair made a steady decline below the support levels at $0.3050 and $0.3000. With the 100 hourly simple moving average, the pair even broke the $0.2950 support level. XRP recorded a new monthly low at $0.2897 after hitting $0.2900. Recently, Ripple price corrected above $0.3000 after forming nice support above the $0.2900 level. From $0.3316 high to $0.2897 low, XRP made a break above the 23.6% Fib retracement level of the last major drop.

Besides, on the hourly chart of the XRP/USD pair, a break with resistance near the $0.2990 occurred above a bearish trend line. Currently, the pair is consolidating above the 100 hourly SMA after testing the $0.3050 resistance. There are a few resistances around $0.3075 and $ 0.3100 levels on the upside.

Near the $0.3100 level is the 50% Fib retracement of the last major decline from a high of $0.3316 to a low of $0.2897. XRP Price Prediction suggests that a break above $0.3075 and $0.3100 could lead to an increase in the price of the token. However, decent support is forming near $0.2950 on the downside.

A connecting bullish trend line is forming with a support around $0.2950. The dips stay supported near this level. However, the XRP price may slide towards the support level of $0.2900 if it fails to remain above $0.2950. XRP Price Prediction places the next support level near $0.2840. Despite the dips, XRP price is likely to rise higher if it breaks the resistance zone at $0.3060-$0.3075.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.264
-0.73%

Just like XRP, Ethereum price has fallen towards the $200 support area. The crypto asset is showing bearish signs, despite its current price near the $215 resistance level. Ethereum started its upward movement against the US Dollar from $201.

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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