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Ripple price analysis: XRP/USD might break below $0.30 overnight

Ripple Price analysis
TL;DR Breakdown
  • Ripple price analysis is bearish today.
  • The closest resistance is present at $0.355.
  • XRp/USD is currently trading at $0314.

The Ripple price analysis for today shows that the market is bearish. There is a bearish trend line forming with resistance at $0.355 on the hourly chart of the XRP/USD pair. The price is currently trading at $0.314, below the support of $0.318. The Ripple price analysis today shows that a bearish trend line is forming with resistance at $0.355 on the hourly chart of the XRP/USD pair. The price is currently trading below the support of $0.318, and it could test the next support near $0.310 in the near term. On the downside, there is a new bearish trend line forming with resistance at $0.355 on the hourly chart of the XRP/USD pair.

The closest resistance for the bears is present near the $0.355 level. If there is a downside break below the $0.310 support, the price could test the next major support at $0.302. On the upside, the $0.318 and $0.320 levels might act as a resistance. Overall, the market remains in a bearish zone below $0.355, and it could decline further towards $0.302 or even $0.300 in the coming sessions.

XRP/USD 1-day price chart: Bearish trends prevail

The one-day Ripple price analysis shows that the market was in a consolidative phase for some time. The XRP price started to move higher after it found support near the $0.292 level, and it even climbed above the $0.300 level. However, the bulls failed to gain any traction above $0.310 and $0.312, which resulted in a fresh bearish reaction in the market.

Ripple price analysis
XRP/USD 4-hour price chart. Source: Tradingview

On the upside, an initial resistance is present near $0.305, followed by a key bearish trend line at $0.308 on the hourly chart of the XRP/USD pair. A clear break above the bearish trend line and $0.310 is needed for a sustainable upward move in the near term. The next major resistance is at $0.312, followed by $0.314.

To sum up, Ripple’s XRP price is under pressure below key support levels near $0.305 and $0.302. As long as the price is trading below these levels, there is a risk of more losses towards the key support at $0.292 in the coming days.

Ripple price analysis: Recent Price developments

The 4-hour Litecoin price analysis XRP price started to move lower and broke the key support levels at $0.305 and $0.302. There was also a close below the 100-day simple moving average, which is a bearish sign for the market in the short term. The bears gained strength and pushed the price towards the $0.294 support level, where buyers emerged.

image 291
XRP/USD 4-hour price chart. Source: Tradingview

The price started an upside correction, but the bulls failed to push the price above $0.310. The bears took control and pushed the price below the $0.305 level once again. The price is currently consolidating losses near the key $0.302 support level, with a bearish angle. On the downside, there are strong supports near the $0.300 and $0.298 levels, below which there could be a sharp decline in Ripple’s XRP price towards $0.292 or even lower in the coming days.

Ripple price analysis: Conclusion

The Ripple price analysis indicates that the bullish comeback is losing momentum as bears regain the lead. The overall trend is bearish; and XRP prices may continue to fall in the next several hours, reaching a low of $0.30.

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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