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Ripple Price Analysis: XRP slowly consolidates above $0.90, another test of downside to follow?

Ripple price Analysis

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • XRP/USD set another lower high and rejected upside.
  • Support at $0.90 to be tested next.

Ripple price analysis is bearish as further upside was rejected again after a quick rally overnight. Therefore, we expect XRP/USD to reverse and retest the $0.90 again.

Ripple Price Analysis: XRP slowly consolidates above $0.90, another test of downside to follow? 1
Cryptocurrency heat map. Source: Coin360

The crypto market traded in the green over the last 24 hours. The market leader, Bitcoin, is up by 2.31 percent, while Ethereum is up by 2.96 percent. Meanwhile, Binance Coin (BNB) is the best performer, with a gain of 9.28 percent.

Ripple price movement in the last 24 hours: Ripple tests upside again with a rejection

XRP/USD traded in a range of $0.9083 – $0.9903, indicating strong volatility over the last 24 hours. Trading volume has increased by 35.3 percent and totals $3.86 billion, while the total market cap trades around $43.84 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP set to test $0.90 again?

On the 4-hour chart, the Ripple price looks to reverse again and likely head towards the $0.90 later today.

Ripple Price Analysis: XRP still consolidates above $0.90, another test of $0.90 to follow?
XRP/USD 4-hour chart. Source: TradingView

Ripple price action has seen a reduction in volatility over the past weeks. After a more than week-long consolidation above $1.05, a sharp drop lower was seen on the 20th of September, with the price briefly reaching $0.85.

What followed was a reaction above $1, with consolidation in an increasingly tighter range since. The $0.90 mark has been established as the new support as it has reversed XRP several times over the past week.

Overall, we expect the Ripple price action to continue consolidating later this week. Unless the $0.90 gets broken, we expect XRP/USD to bounce from it again over the next 24 hours.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bearish today as another move to the upside resulted in a strong rejection. Therefore, we expect XRP/USD to head towards the $0.90 support again and continue consolidating. 

While waiting for Ripple to move further, read our guides on how to create NFT art, NFT marketplaces, as well as Coinbase Wallet review.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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