Ripple Price Analysis: XRP tests upside again, ready to break below $1.02?

Ripple Price analysis

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • XRP/USD found resistance at $1.07 overnight.
  • Closest support at $1.02.

Ripple price analysis is bearish today as we saw another test of upside result in a rejection. Therefore, XRP/USD is not yet ready to move higher, likely resulting in another push lower later today.

Ripple Price Analysis: XRP tests upside again, ready to break below $1.02? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market has seen bullish momentum return over the last 24 hours. The market leaders, Bitcoin and Ethereum are up by 0.36 and 3.53 percent, respectively. Meanwhile, Crypto.com Coin (CRO) continues to dominate the market, with a gain of over 20 percent.

Ripple price movement in the last 24 hours: Ripple moves lower after rejecting upside

XRP/USD traded in a range of $1.02 – $1.07, indicating mild volatility over the last 24 hours. Trading volume has increased by 14.36 percent, totaling $3.16 billion, while the total market cap trades around $49.1 billion, ranking the coin in 7th place overall.

XRP/USD 4-hour chart: XRP looks to break below $1.02?

On the 4-hour chart, we can see bearish momentum strong this morning for the Ripple price action, likely leading to a break lower later today.

Ripple Price Analysis: XRP tests upside again, ready to break below $1.02?
XRP/USD 4-hour chart. Source: TradingView

Ripple price action has seen a continuous decline over the past weeks. After a new major high was set at $1.35 on the 10th of November, a sharp reversal followed, leading to the current lows.

On the 18th of November, the current swing low at $1.02 was reached. After a slight recovery, a lower high was set at $1.1, indicating that further downside will follow.

Early on Monday, the Ripple price returned to the $1.02 low. A breakout did not follow as XRP/USD moved into a consolidation. However, since further lower highs have been set, we expect XRP to break lower over the next days.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bearish today as we saw upside rejected overnight, leading back below $1.06 mark. Likely XRP/USD will continue even lower today, with the $1.02 support being the mark to break.

While waiting for Ripple to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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.



Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Ethereum price analysis: ETH retests $1,680, swiftly spikes above $1,800
ChainLink price analysis: LINK spikes to $9.2 after strong bullish trend
Uniswap price analysis: UNI/USD rises to $9.22 after a massive bullish run
The World’s Flagship Blockchain Event Coming to DUBAI
The Benefits of Betting Using Cryptocurrency. Advantages of Crypto Deposits

Follow Us

Industry News

Coinbase records $1 billion loss in Q2
Curve Finance hacked and $570K stolen
What happens to $ETH after the merge on 19 September?
Cleanspark acquires BTC mining facility with 86 MW capacity
BitMEX executive pleads guilty in court