Ripple XRP price analysis: Bears taking down XRP at $0.26

ripple xrp price analysis 20 august

Ripple price analysis shows that the Ripple (XRP) price has its both moving averages and the relative strength index (RSI) are holding up the sell banners. Indicating that buying is currently not an option when the oversold territory has increased its area of influence.

The bearish trend of XRP price had caused it to break the 0.27795 dollars support on 14th August 2019. And on the following day, 15th August 019, Ripple saw its price fall to a bottom mark at $0.225, which is registered as the new all-time low (ATL).

Ripple XRP price analysis: Bears taking down XRP at $0.26 1Ripple XRP price chart by Trading View

Ripple XRP price analysis: Way Forward

The bears seem to be dormant with the current price decline. The RSI is hovering over twenty-six (26.87). Given the fact that XRP price had risen from almost a similar situation in September 2018, when it had a large cut from it reducing it from $0.6132 to $0.2450.

A support mark at $0.2530 was pointed on the graph but before XRP could go any lower than $0.2700- after a rebound- it went straight to $0.7644.

If the same case study is applied to the current situation, we might as well see a major rebound in XRP prices.

Ripple XRP price analysis: Bears taking down XRP at $0.26 2Ripple XRP price chart by Trading View

While that is what might be the outcome of the Ripple XRP price analysis in the medium-term, and the short-term analysis on XRP is that everything is bearish. All the technical indicators point towards the sentiments of the bulls for XRP price is at their mercy.

A slight rebound has XRP running at $0.26640 at the time of writing this article. If the happens and XRP lands above $0.27795, then the bulls can rest for a bit. While a new support mark lies at $0.19 if the bulls do not make it through.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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