- Ripple price analysis is bearish today.
- Ripple set a lower low at $0.76 yesterday.
- XRP/USD saw retracement from the previous low.
The bearish Ripple price analysis keeps getting stronger today, as we expect another decline to follow after the retracing from yesterday’s low. Before the bearish momentum resumes, XRP/USD is likely to establish another lower high in the following hours.
Ripple price has been on a downtrend since establishing a high of $3.84 on January 4th. The cryptocurrency made a lower low at $0.76 yesterday and is currently retracing from that level. XRP/USD saw a high of $1.09 today but is likely to resume the downtrend soon.
Ripple price movement in the last 24 hours: Ripple retraces after a lower low set at $0.76
The bearish momentum is getting stronger as each day progresses, with the next target being $0.50. The RSI is below 30, indicating oversold conditions and strong selling pressure. The MACD is also in negative territory and continues to trend downwards.
There is a chance for a corrective rally to take place in the following hours, but it would only be temporary before the bears take over again. The next target for Ripple price is $0.50, as the downtrend strengthens.
XRP/USD 4-hour chart: XRP prepares to push lower again?
We can see selling pressure slowly returning over the past hours for Ripple’s price action on the 4-hour chart, which will likely result in another lower high later today.
Ripple price was under significant selling pressure for the past few days, but it has seen a slow resurgence of bearish momentum over the last few days. A solid swing high was established after falling to $0.93 from its previous large surge lower.
If you are bullish on Ripple, you can do a few things to maximize your potential profits. First, keep an eye on the news and make sure you are up-to-date with all the latest developments. Second, trade during periods of strong momentum and avoid buying into retracements. Finally, always use a stop-loss order to minimize your losses if the market turns against you.
If you are bearish on Ripple, you can also do a few things to profit from the sell-off. First, monitor the charts and wait for confirmation of a downtrend. Second, sell into rallies and wait for the market to resume its downward trend. Finally, use a stop-loss order to minimize your losses if the market turns against you.
Ripple Price Analysis: Conclusion
Ripple’s price is declining again today, as we anticipate another drop following a modest recovery over the previous 24 hours. Next, XRP/USD will establish another clear lower high and seek to test further downside.
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.