logo

Ripple price analysis: Will XRP/USD break lower than $0.39551?

Ripple price analysis: XRP unable to break above $0.386 as price shows sideways movement

TL;DR Breakdown

  • Ripple price analysis remained slightly bullish
  • The next support is set at $0.33161 while Ripple faced resistance at $0.3495
  • XRP/USD is expected to continue consolidating sideways in the next few hours
  • This is not a good time to buy Ripple due to the market’s uncertainties

Today was slightly bullish for Ripple price analysis as its price is closing at $0.3486 after dipping to $0.3369 yesterday. Earlier on the 14th of December, Ripple started dipping after testing $0.39551 and went on a downward trend before finding support at $0.33161.

Crypto heat map
Cryptocurrency heat map by Coin360

The overall market had mixed sentiments near the end of the day today, where Bitcoin’s price has decreased slightly by 0.2 percent, but Ethereum is still in the greens. Similarly, Dogecoin, Litecoin, and Cardano are also positive.

1-day Ripple price analysis
Ripple Price Chart by TradingView

The 9-period moving average on the daily Ripple price analysis shows us a downward trend as well. On the other hand, the RSI is somewhat balanced right now and the MACD indicator is showing slight growth. But the growth is not significant enough to be considered as a full-out reversal. Based on the market’s sentiment, there is still room for Ripple to break lower than $0.33161.

24-hour Ripple price analysis

Near the end of the day today, Ripple’s price is closing at 0.34869. At the same time yesterday, the Ripple price analysis was at 0.34421. So, there has been a net increase in the price in comparison with yesterday, although the increase is not large. The market has remained volatile, and we can see the price moving up in the 1-hour time frame.

However, the RSI on the 1-hour time frame is also above 60 right now, suggesting that the market is leaning towards the overbought side. As soon as this recovers, we can see a fall in the price over the next few hours.

4-hour Ripple price analysis: Is XRP/USD going to break lower than $0.33161?

4-hour Ripple price analysis
Dogecoin Price Chart by TradingView

Despite the market remaining slightly bullish today, XRP has remained in a range. It bounced off slightly after testing $0.33161 and faced resistance at $0.3495 again. On the 4-hour chart, the RSI is around 50, which indicates that there is some balance in the market. Furthermore, the MACD indicator is showing positive growth. However, the market’s sentiment is still very questionable.

We can expect Ripple to trade in a range and continue consolidating sideways for the next few intervals on the 4-hour chart. After that, if the bulls recover, we can see slight growth but that is not expected considering the market’s sentiments. At this point, Ripple can retest $0.33161 and possibly break lower.

Ripple price analysis: Conclusion

Even though the market was slightly bullish today, the overall growth in the Ripple price analysis was not significant. XRP/USD may continue to consolidate sideways for the next few hours. For a more detailed analysis of what Ripple might hold in the future, read our Ripple price prediction guide.

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.

Shummas

Shummas

Shummas is a technology enthusiast and a researcher with a keen interest in blockchain and crypto. He also trades and invests in NFTs on the side, believing that NFTs will revolutionize many industries.

Related News

Hot Stories

Failure of FTX demonstrates the need for reform of private placements, Says SEC officials
Avalanche price analysis: AVAX begins correction after topping $20 resistance
DOJ backs move to stop SBF from accessing FTX and Alameda resources
Litecoin price analysis: Bearish pulls LTC down to $90.34 aftermarket crash
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later

Follow Us

Industry News

Failure of FTX demonstrates the need for reform of private placements, Says SEC officials
DOJ backs move to stop SBF from accessing FTX and Alameda resources
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later
Binance and Mastercard to launch crypto card in Brazil
Hermes set to commence trademark infringement trial

Add Your Heading Text Here