XRP Price Breaks below 26 Cents As BTC Drops 10%

The digital currency market is currently experiencing a major turmoil. All the top cryptocurrencies in the market are deep in the red zone. The price of Bitcoin (BTC) is down by more than 10 percent over the past twenty-four hours. The only digital currency that is currently trading in the green among the top twenty is Tether (USDT). This is not a piece of exciting news for many digital asset investors in the market. However, it is a great opportunity for many investors as they can increase their digital asset holding at a low rate.

XRP Recent Price Trend – XRP Price Prediction – Cryptocurrency News Today – Cryptocurrency Market Update

The journey of XRP began on the 9th of July when it plunged to a low of 28 cents. The price of the digital currency later surged on July 20 when it tested a high of 32 cents. The significant increase in the price of the digital currency left buyers wanting more, but they failed to push XRP USD price over that level. XRP USD price started plunging on Aug 5. XRP USD price plunged and tested the 29 cents mark on Aug 5 and Aug 13. XRP is currently in a bearish zone and it is trading in a descending triangle since July 12.

The price of XRP has tested the 25 cents mark twice today and it is still trading within that range. There is a probability that the digital currency might continue to plunge lower. However, XRP is showing some bullish signs. The price analysis of the coin revealed that the Doji of Aug 10 transformed into the present price plunge would give traders waiting to buy hope.

XRP Long-Term Price Analysis – XRP Price Prediction – Cryptocurrency Market Update – Crypto News Today

Looking at the chart of XRP, the long-term picture of the digital currency appears bullish. Both the Relative Strength Index (RSI) and the Moving Average Convergence & Divergence (MACD) are in the green area. Nevertheless, XRP USD price is facing strong resistance on the upside. The immediate resistance of the coin is at $0.264 mark. After this level, the next resistance is at the $0.2800 mark. Breaking over this level, XRP USD price might encounter another issue at the 29 and 30 cents levels. The candlesticks of the coin are still locked down in a descending triangle. However, the digital currency might break over the nearest resistance level very soon.

If there is any significant bullish move in the near future, then the price of XRP might break over the major resistance at the 29 cents level with ease. It might also break over the 30 cents resistance level in the same move. However, that is unlikely to happen soon as the entire digital currency market is currently suffering the same issue.

The immediate support of the digital currency is at the 25 cents mark. If XRP USD price breaks below this level, the next support level is at the 24 cents mark.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.287
-1.17%

At the time of writing, the price of XRP is $0.2599 after a decrease of about 12 percent over the past twenty-four hours. The current market cap of the digital currency is $11.15 billion. The trading volume of the digital currency over the past twenty-four hours is $1.95 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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