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Ripple price analysis: XRP/USD seller’s dominance on the ripple market to continue for the next 24 hours

Ripple price analysis

TL;DR Breakdown

  • Ripple price analysis is bearish today.
  • XRP/USD continued sideways yesterday.
  • $0.75 support is likely to be tested again.

Ripple price analysis is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.

On the 4-hour chart, XRP/USD is currently trading below the $0.75 support and looks poised to continue lower. The next key support level to watch out for is $0.68. A break below this level could push Ripple‘s price towards the $0.50 mark.

On the daily ripple price analysis chart, Ripple’s price is stuck between the $0.75 and $0.68 support levels. A break below either of these levels would confirm a bearish trend reversal.

Thus, we remain bearish on XRP/USD in the short-term and expect it to continue lower towards the $0.50 mark over the next few days.

Ripple price movement in the last 24 hours: Ripple fails to retrace, continued sideways

XRP/USD has failed to retrace after yesterday’s brief rally. The market has been consolidating near the $0.75 support for the past few hours and looks poised to continue lower in the near-term.

At the time of writing, XRP/USD is trading at $0.74 and is down by 1% over the past 24 hours. The market has a bearish short-term outlook and is likely to drop below $0.75 in the next few days.

The daily ripple price analysis chart shows that Ripple’s price is stuck between the $0.75 and $0.68 support levels. A break below either of these levels would confirm a bearish trend reversal in the market.

XRP/USD remained relatively stable yesterday, as the market failed to make a decisive move in either direction. The $0.75 support level remains key for the bulls, as a break below it would confirm a bearish trend reversal.

Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.

XRP/USD 4-hour chart: Bearish trend continues

Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.

Ripple price analysis: XRP/USD seller's dominance on the ripple market to continue for the next 24 hours 1
XRP/USD 4-hour chart. Source: TradingView

Ripple’s price is bearish today, as the market has failed to retrace after continuing to consolidate above $0.75 throughout the day. As a result, we expect XRP/USD to drop even more early next week and complete the overall retracement.

The RSI indicator is currently trading below the 50 level, which confirms that the bearish momentum is still strong.

The 4-hour chart shows that Ripple’s price is trading below the $0.75 support level and looks poised to continue lower towards the $0.68 support level. A break below this level could push XRP/USD towards the $0.50 mark over the next few days.

Ripple price analysis: Conclusion 

Ripple price analysis is bearish today, as we have yet to see any buying pressure since Friday’s $0.75 support was revisited. As a result, we anticipate XRP/USD to continue falling even further early next week and to retrace even more from its previous large rise.

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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