Ripple Price Analysis: XRP/USD to surpass the intraday highs

Terra Price Analysis
  • Ripple price analysis is bearish today.
  • XRP/USD consolidates below $0.85.
  • Next resistance at $0.90.

At this writing, Ripple‘s price is bearish, as we anticipate a minor retracement from the $0.85 low to establish a new floor for further gains. We assume that a higher low must be found since the $0.85 resistance could not be broken overnight. We anticipate a long-term bearish trend continuation in the days ahead in anticipation for a breakout of the $0.85 resistance, which will be possible if Bitcoin does not maintain its current price trend.

We assume that Ripple’s price will retest the initial starting point of our analysis at around $0.80 before establishing a new floor or continuing with its bearish momentum.

As you can see, it seems as though there are two potential support levels for the future move down, one being at $0.80 and the other at around $0.72, but given the market conditions, these prices are subject to change depending on how Bitcoin performs.

Therefore, the next resistance point for Ripple will be at $0.90, after which, if it manages to break through $0.85, Ripple’s price will go on to test $1.00 before continuing its bearish momentum. However, if Bitcoin holds onto its current trend during our analysis period, this could change the game up for Ripple and establish a higher low level that is key to future gains in XRP/USD.

XRP/USD 4-hour chart: XRP to retrace once more?

On the 4-hour chart, we can see the Ripple price rejecting further upside, indicating another downside test needs to be made.

Ripple Price Analysis: XRP/USD to surpass the intraday highs 1
XRP/USD 4-hour chart. Source: TradingView

Following a four-day correction, Ripple’s price has reversed in recent days and has climbed to $1.00. XRP/USD then retreated from $0.90 to first establish a solid higher low before retracing back to near $0.90 over the next few hours.

Looking at the 4-hour chart, we can see that Ripple’s price is consolidating below our critical resistance point of $0.85, which will be challenging to break through during this bearish trend; if it manages to do so, however, the next target point for Ripple would be at $1.00. Since we believe in continuing the bearish trend in Ripple’s price in light of BTC’s downward movement and EMA alignment, we assume that a retracement from the current low will establish a new floor before continuing its downtrend.

However, the market did not move much further as it topped at $0.95 on December 27th. The market fell rapidly over the following days, reaching as low as $0.81, where support has previously been found.

The $0.85 support was tested soon after, and although the price reacted positively, it immediately retested the $0.81 support. Since then, the Ripple value has returned to $0.85 resistance, which has remained throughout the night. Before the resistance can be broken for good, another downside test is necessary.

Ripple Price Analysis: Conclusion 

The ripple price analysis is negative today, with another test of the downside following the $0.85 support. However, once a higher low is established, XRP/USD should rise to continue its advance.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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