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Ripple price analysis: XRP/USD breaks below $0.40 as bears step up pressure

Ripple Price analysis
TL;DR Breakdown
  • Ripple price analysis has been bearish in the last 24 hours.
  • XRP/USD found support at $0.35.
  • The MACD indicator is currently in bearish territory.

Ripple price analysis attempts to predict future price movements in the XRP market by analyzing past price data and identifying trends. Technical analysis is a popular method used by traders to find potential trading opportunities.

Looking at the 4-hour chart, we can see that the price has been in a downtrend since reaching a high of $0.45. The price has been making lower lows and lower highs, which is a bearish sign. The 50-period moving average is currently below the 200-period moving average, which is also a bearish sign.

XRP/USD price movement in the last 24 hours: XRP/USD pair set to dip further?

The daily chart for the XRP/USD pair shows that the price is currently trading below the moving averages. The 50-day SMA ($0.66) provides immediate resistance to the coin, while the 20-day EMA ($0.65) has been crossed to the downside and is likely to act as immediate support for any further dips in price.

xrp usd 1d
Source: TradingView

XRP/USD is currently trading at $0.39 and is down by 5% in the last 24 hours. The hourly chart for the pair shows that the price has found some support at $0.35, which is likely to act as a strong support level in the near term.

The Bollinger Bands on the hourly chart have been expanding, which indicates that the market is becoming more volatile. The RSI indicator is currently at 42 and is showing no signs of bullish momentum.

XRP/USD 4-hour chart: Recent price developments show bearish pressure

As seen on the 4-hour Ripple price analysis chart, the XRP/USD pair has formed a descending triangle pattern. The pattern is typically considered bearish, and a breakdown below the triangle’s lower trendline could see XRP/USD head towards $0.55.

xrp usd 1h
Source: TradingView

The RSI is currently in oversold territory, suggesting that the sell-off may be overdone in the short term. However, the MACD is still bearish, and a break below $0.35 could see the price tumble towards $0.50 in the short term.

Therefore, the XRP/USD pair is likely to dip further in the next few hours and it could test the $0.35 support level. Below this level, the next major support is located at $0.30. On the upside, the $0.60 Ripple price analysis has been bearish in the last 24 hours.

Ripple price analysis attempts to predict future price movements in the XRP market by analyzing past price data and identifying trends. Technical analysis is a popular tipple price analysis that has been bearish in the last 24 hours.

Ripple price analysis attempts to predict future price movements in the XRP market by analyzing past price data and identifying trends. Technical analysis is a popular method used by traders to find potential trading opportunities.

Ripple price analysis: Conclusion

Ripple price analysis is bearish on the daily time range however, on the 4-hour time range, a descending triangle pattern has been formed which is typically bearish. The MACD indicator is currently in bearish territory, and the RSI is also heading lower. This suggests that there is more downside potential in the near term.

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.

Moses Kimathi

Moses Kimathi

Moses is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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