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Ripple XRP price data analysis shows weakness: XRP/USD mostly dormant

ripple xrp price data analysis 4june 2019

The Ripple XRP price data shows that the XRP/USD pair started a slow and steady rise from the $0.3814 low swing. Bitcoin (BTC) experienced huge surges in its price and landed at the twelve thousand dollars ($12,000) mark while Ripple price has bee lying below the $0.4070 level, not being able to break the resistance.

Ripple XRP grew up steady from $0.30920 resistance to the new resistance level of $0.4000. A $0.4050 resistance level had been breached by it in the 100 hourly simple moving average.

Ripple XRP price landed below the Fibonacci retracement level of over twenty-three percent (23.6%) between the range of $0.3814 low to $0.4086 high. A support level emerged, $0.3960, and the price level went up to the fifty percent (50%) Fibonacci retracement level in the $0.3814 low to the $0.4086 high.

If Ripple seems to show a downward trend, it could well land at the $0.3960 mark from the bullish $0.4008 trend line that has kept steady over the 100 hourly simple moving average.

Ripple XRP price data analysis shows weakness: XRP/USD mostly dormant 1Ripple XRP price chart by Trading View

The immediate resistance forming is at the $0.4070 level. Expected resistance, if the price breaks above the $0.4070 barrier, are: $0.414 and further gains will skyrocket it to $0.4200 and $4220 resistance marks.

Ripple price has been trading in a broad range of supports and resistance for quite long while Bitcoin (BTC) has been showing an upward trend.

Right now, Ripple needs to cross over to the other side- meaning, rise above the $0.4070 to $0.4100 and close there, at the very least. Ripple XRP is trading at $0.3931 at the time of publishing.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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