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Ripple price analysis: XRP unable to breakpast $1.18, reporting mixed market sentiment

Ripple price analysis XRP unable to breakfast reporting mixed market sentiment

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • Strong resistance is found at $1.21.
  • Strong support for XRP is found at $1.15.

The Ripple price analysis shows an inclination towards the bearish side. The coin is unable to break through the $1.18 level, as it has been struggling at this level for the past 32 hours, after going through a loss on 12 November when the bears pulled the price down to $1.18. Today the sequence is no different, and the Ripple is stuck at the same point, oscillating slightly around it.

XRP/USD 1-day price chart: Ripple receives mixed market sentiment

The 1-day Ripple price analysis shows that the price oscillation is almost negligible as the crypto pair is receiving mixed market sentiment from yesterday as the price oscillation is low and the trading volume is down by more than 25 percent. The XRP/USD pair is trading at $1.18 at the time of writing, and the crypto pair reports an increase in price value by 2.5 percent over the past week.

Ripple price analysis: XRP unable to breakpast $1.18, reporting mixed market sentiment 1
XRP/USD 1-day price chart. Source: Tradingview

The volatility is comparatively high for XRP as the Bollinger bands have expanded significantly. The upper band at the $1.29 mark represents resistance for the cryptocurrency and the lower band is at the $1 mark. The average of the Bollinger bands is at $1.15, representing support for the XRP/USD pair. The moving average is trading above the price level at the $1.20 mark.

The relative strength index (RSI) is trading on a straight horizontal line in the upper half of the neutral zone at index 54, indicating fierce competition between the bulls and the bears.

Ripple price analysis: Recent developments and further technical indications

The 4-hour Ripple price analysis shows the price went down at the start of the session today but then was rescued by the bulls, and slight improvement has been observed, but the overall situation is the same as the decrease and increase are both nominal.

Ripple price analysis: XRP unable to breakpast $1.18, reporting mixed market sentiment 2
XRP/USD 4-hour price chart. Source: Tradingview

The volatility decreased dramatically during the last eight hours yesterday, and the Bollinger bands shrank steeply, coming down to the values; $1.23 for the upper band and $1.15 for the lower band, making an average at the $1.19 mark. The moving average is just below the price level at the $1.187 mark, and the RSI is trading at index 45, not giving any signal for upward or downward movement.

The technical indicators for XRP/USD are mostly on the bullish side due to the bullish trend for the past few days. There are 14 indicators giving bullish hints and only three indicators giving bearish hints. However, the remaining nine technical indicators stand neutral and do not give any signal out of a total of 26 technical indicators.

Ripple price analysis: Conclusion

The Ripple price analysis suggests that the midterm indicators are bullish and gives an indication for improvement over time, but the short-term indications are bearish and hint at the downwards trend to continue for the coming hours, as the bullish efforts for breaking through the current price level have failed, and the coin needs more consolidation for a further move higher.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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