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Ripple price analysis: XRP/USD set to dip further in the next 24 hours

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • XRP/USD spiked higher overnight.
  • XRP/USD pair is currently trading at $0.77.

Ripple price analysis is bearish today, as we anticipate a reversal after the market reached strong resistance at $0.76-$0.77. We expect XRP/USD to retreat and create another local higher low after a rejection.

The market is currently testing resistance around the $0.76 handle, after spiking higher overnight. XRP/USD has been in a strong downtrend, and we anticipate a reversal after

XRP/USD spiked higher overnight, reaching resistance at $0.76-$0.77. The market has since reversed and is now testing support at around $0.7250. A break below this level could see XRP/USD fall back to previous lows near $0.6800. Conversely, a rebound above $0.76 could see the market reach new highs.

Overall, Ripple price analysis is bearish today as we anticipate a reversal after the market reached strong resistance at $0.76-$0.77. We expect XRP/USD to retreat and create another local higher low after a rejection.

Ripple price movement in the last 24 hours: Ripple pushed higher, finds resistance around $0.77

Ripple (XRP) spiked higher overnight, reaching resistance at $0.76-$0.77. The market has since reversed and is now testing support at around $0.7250. A break below this level could see XRP/USD fall back to previous lows near $0.6800. Conversely, a rebound above $0.76 could see the market reach new highs.

Ripple price movement in the last week: Ripple has been range-bound in the last week, bouncing between $0.68 and $0.77.

XRP/USD 4-hour chart: XRP begins to reject further upside

On the 4-hour chart, we can see that XRP/USD has begun to reject further upside, with the market reaching resistance at $0.76-$0.77. A break above this level could see prices continue to rise to new highs, while a rejection could see a retracement to support at $0.68.

Ripple price analysis: XRP moves to a resistance area around $0.76, reversal incoming?XRP/USD 4-hour chart. Source: TradingView

Ripple’s price has fluctuated significantly in the past week, with a steady decline melting into consolidation. After falling to $0.7 at the start of the month, XRP/USD established a solid lower high of $0.76 as a follow-up reaction.

The MACD has flattened somewhat, and the RSI is hugging 50 as bulls and bears converge around the current price. A breakout could result in a stronger move as traders take positions in line with their outlook.

The Bollinger bands are starting to tighten, with the upper band moving closer to the current price. This could indicate a potential breakout in either direction.

Looking at the 4-hour chart, we can see that XRP/USD is currently testing resistance at $0.76-$0.77. A break above this level could see prices continue to rise to new highs, while a rejection could see a retracement to support at $0.68.

Ripple price analysis: Conclusion 

Today’s Ripple price analysis is bearish, as the market has climbed up to a strong resistance level. However, the bulls may already be weary once again, indicating that another retracement will occur in the next 24 hours.

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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