- Ripple price analysis is bearish today.
- Strong resistance is found at $1.
- Strong support is found at $0.87.
The Ripple price analysis shows a further drop in price has happened today. No attempts for recovery have been observed from the bullish side from the start of the session, as the price continues to go down every hour. Resistance is present at the $1 level, and XRP/USD pair is dangling below the resistance level, the support of $0.87 also seems strong enough, and the price may not go below the support level.
Overall, XRP is on the decline from the 7th of September, as the price curve has been downwards since then. XRp/USD is down by 2.6 percent over the last 24 hours and around 14 percent over the course of the last seven days.
XRP/USD 1-day price chart: Bulls sidelined as bears continue to degrade price
The 1-day price chart for Ripple price analysis shows bearish momentum as the price stooped down from $0.94 to $0.91 today; the downwards price function continues from 23rd September Currently, the price is below the price channel of last week, which was just at the fence above $1. However, there are some good indications also present in the 24 hours chart.
The volatility is seemingly decreasing; as can be seen in the charts, the Bollinger bands are narrowing down, hinting at limiting bearish progress. Though the upper Bollinger band has come down more as compared to the lower band going up, the deciding factor will be the breakout of the direction of the Bollinger bands, which is expected to break downwards as the price is near the lower band.
The moving average is traveling down towards the price level and is present at $0.96, just above the price level. The short-term moving averages (MA) and exponential moving averages (EMA) are on the bearish side and propose selling options.
The relative strength index (RSI) is in the lower half of the neutral zone at 40 index and is expected to go further down. If it goes into the undersold region, then the bearish trend will be unrecoverable for quite some time.
The MACD, a lagging indicator, is still in light bearish color despite the price stooping low towards the lower bank of Bollinger bands, confirming the intensifying bearish momentum, as the color of the histogram can turn dark red anytime.
Ripple price analysis: Price down to $0.92 as bearish development continues
The 4-hour price chart for Ripple price analysis reveals another major setback for XRP/USD as price function continues downward and red candlesticks are appearing on the 4-hours chart, much bigger than the previous ones, and chances of recovery are diminishing every hour.
The Bollinger bands are taking a downward curve with the upper band at $1, and the lower band is at the $0.89 mark, making an average above the price level at $0.95. The mean average above the price level suggests a bearish market. The moving average is at $0.93, and the RSI is still hovering in the lower half of the neutral zone.
Across the technical indicators for Ripple price analysis, are encouraging for the bearish side, as they are giving out 13 signals for selling of XRP assets, compared to only three signals for the buying of assets, whereas as 10 technical indications do not support of either side of the market.
Ripple price analysis: Conclusion
The one-day and 4-hour price analysis shows the price to go further down in the coming time but not below the support level and may continue to float near the $0.9 level. As the volatility is slightly decreasing so, we can expect a short-term price improvement in the coming hours.
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