The latest Ripple XRP price analysis reveals that the XRP price owners should tread the market carefully Subsiding from any activities that even remotely resemble the act of buying.
XRP price has been bearish with a downward trend that has been in a correction pattern which hasn’t ended and has tested the support at the $0.27795 mark (to which it rebounded to) a couple of times, thus weakening the support.
Earlier, today Ripple XRP price analysis is not really required to see that XRP price dropped down to the $0.243 mark; however, it is now stabilizing at $0.267.
The XRP price stood at $0.297 at the start of the day and went down by as much as about two and a half percent (2.5%), at the time of writing.
Ripple XRP price analysis: Resistance/Support
The technical Ripple XRP price analysis indicators do not seem good; with the relative strength index (RSI) and the simple moving averages (SMA) residing in the danger zone.
If the bears fell to keep the price above the $0.27795 mark, then the next support will be at $0.19, reaching which will not be fun. A downtrend is sure to ensue with price creeping down the lane.
The twenty (20) and the fifty (50) day moving averages will be quite a catch if the XRP pair rises above the $0.27795 mark.
The twenty (20) day moving average will ensure a rally to the fifty (50) day moving average- above the latter resides the key support mark at 0.34229 dollars. If the bulls feel like it, they can keep going till the break the $0.45 mark.
Ripple XRP price has been falling down for two consecutive days now while Ripple Foundation is facing new action in the court of law.