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Ripple price analysis: XRP/USD bearish for the next 24 hours

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • XRP/USD is currently trading at $0.8631.
  • Support for XRP/USD is present at $0.818.

The recent Ripple price analysis displays signs of bearish activity, with the bears returning to the price charts. The price went down during the previous week, but the bulls could break free from bearish pressure at certain points. However, today’s trend is leaning towards the bears as a deficit in value has been recorded, with prices dropping up to $0.853 so far.

Price is trading below the 21-day EMA and 50-day SMA, which indicates that a bearish trend is ongoing. The fact that $0.862 has strong resistance with no support behind it means that prices might drop to $0.818 if they continue to go down.

The latest Ripple news takes a look at the new developments on the blockchain of this currency. The Rippled GitHub page is seeing some changes, with two new commits for XRP and ledger-server version 0.90.

XRP/USD 1-day price chart: Price levels stumbling again

The recent XRP/USD price analysis presents some uncertainty among traders, which led to a slight increase in prices at certain points. However, the uptrend was short-lived, and the bears returned within an hour or so. Strong support is present at $0.818 but has not been tested yet.

Ripple price analysis: XRP/USD bearish for the next 24 hours 1
XRP/USD 1-day price chart. Source: Tradingview

The moving average (MA) is leaning towards a bearish bias as far as the 1-day charts are concerned. The price chart shows strong resistance at $0.869, which has been breached on one occasion during the previous week. However, bulls have been unable to capitalize on this opportunity, and prices have fallen back again to where they were before breaching the resistance. The 21-day EMA and the 50-day SMA are trading near one another, with the latter slightly above the former. This indicates a low probability of a bullish trend in the short term.

Traders are already looking for possible exit points for their open positions, but the latest Ripple news caused a lag in this activity. It’s interesting to see what happens after the recent developments with Rippled (more on this below) because if the bears return in full force, it might be game over for XRP/USD after all.

Ripple price analysis: Recent developments and further technical indications

The four-hour Ripple price analysis shows that the price of XRP/USD has breached the resistance level at $0.869 with great force but hasn’t been able to hold its position above this critical level. The Rippled GitHub page has recently seen some changes, including two new commits related to XRP and ledger-server version 0.90. It’s interesting to see what happens with the Rippled GitHub page, as this might serve as a good indicator of any upcoming Ripple news.

Ripple price analysis: XRP/USD bearish for the next 24 hours 2
XRP/USD 4-hour price chart. Source: Tradingview

Further technical indications are leaning towards a bearish bias for XRP/USD based on the recent price chart. The moving averages (MA) are trading near each other, with the 21-day EMA above the 50-day SMA. This indicates a high probability of a bearish trend in the short term. Still, it is difficult to determine whether this decline will continue for longer periods or a reversal might take place instead.

The four-hour chart shows that the price of XRP/USD tested at $0.869 but couldn’t stay above this critical level for more than 10 minutes, as the bears returned to close the price below $0.862 where it was before breaching resistance. This might indicate that bulls are losing strength and might not defend these levels soon.

Ripple price analysis: Conclusion

XRP/USD has tested $0.862 several times, but bulls have been unable to stay above this critical support level for more than an hour or so. The latest Ripple news points out that the Rippledger-server sees some new commits, indicating a software update soon.

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.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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