Ripple (XRP) Trending in a Bearish Zone Following Bitcoin’s Decline, How Low Will XRP Go

XRP

Ripple News Today – Ripple price is trading in a bearish direction against the US Dollar while pulling through against bitcoin. There are possibilities of XRP price declining below the previous low at $0.2895. Currently as gathered from Ripple’s news update, the pair is encountering a difficult mission and there are possibilities of it breaking the $0.2900 support level in the near term. Ripple price analysis today shows Ripple’s price is trading in a downtrend below the $0.3000 and $0.3050 resistance against the US dollar. The price is expected to extend its drop seeing the recent decline in bitcoin price below $11,000. There is a significant bearish trend line developing with resistance near $0.2980 on the hourly chart of the XRP/USD pair.

XRP News Today – XRP Price Prediction – Ripple News Today – XRP Price Rises Against The USD

Previously, the Ripple price improved above the $0.3000 resistance level against the US Dollar. The XRP/USD pair even traded above $0.3040 and 100 hourly simple moving average. However, the bulls fought to obtain force above the $0.3050 and $0.3060 resistance levels. This resulted in a surge at $0.3060, which decreased almost immediately below the $0.3000 support.

Just above the trend line, the 50% Fib retracement level of the previous decline from the $0.3062 high to $0.2917 low is currently at $0.2990. Significantly, the 100 hourly simple moving average is situated close to the $0.3000 level to serve as resistance. Hence, there is a prospect of a positive break above the $0.3000 resistance in the near term. The predicted XRP significant resistances are close to the $0.3050 and $0.3060 levels.

If there is no positive break above $0.3000, there might be a continuous decline. If this happens, then instant support is close to the $0.2900 area. But if it happens that there are more downsides, then there is a risk of a break below the previous decline close to $0.2895. In the cited instance, the price is expected to decline towards the $0.2840 level.

XRP Price Prediction – XRP News Today – Ripple Price Analysis – Ripple Experiencing a Fluctuating Price Trend

In the recent Ripple price analysis, Ripple’s price is experiencing obstacles on upside close to $0.2990, $0.3000 and $0.3050. A prosperous close above the $0.3000 level and the 100 hourly SMA might inspire the bulls in the short term.

Hourly MACD – the MACD for XRP/USD is progressing slowly into the bullish zone. Hourly RSI (Relative Strength Index) – the RSI for XRP/USD is faring well beneath the 50 levels. Major Support Levels – $0.2950, $0.2900 and $0.2840. Major Resistance Levels – $0.2990, $0.3000 and $0.3050.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.272
-1.30%

Going by Ripple price analysis, Ripple (XRP) is trading at $0.30. The coin is trading in a bearish zone. The Market Cap of XRP is currently at $12,858,954,724. Previously on 6th August, Ripple’s price was at $0.320. The currency declined from $0.320 to $0.311 by 2.69%. On 7th August, XRP maintained an average movement. The price altered from $0.3118 to $0.31116 by 0.18%. On 8th August, the currency declined from $0.31116 to $0.30922. The deterioration was 0.62%. There was a significant downtrend in the price of Ripple on 9th August. XRP price surged from $0.30922 to $0.30036. The deterioration reported was 2.79%. On 10th August, the coin escalated from $0.300 to $0.302. The hike was 0.62%. The currency again kept a low profile on 11th August. Ripple price moved from $0.3021 to $0.3022 by 0.03%. XRP currency started with a downtrend today. The coin slipped from $0.302 to $0.300. The relapse reported was 0.69%. Crypto analyst has advised that going by analysis and historical data, that investing in Ripple will be fruitful in the long term.

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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