Ripple XRP price movement stabilizing towards $0.24

Ripple XRP price had been trading below the $0.30 mark since the 6th of November 2019 to the $0.28 mark until the 10th of November. XRP price has failed to recover above the $0.25 mark since the 25th of November.

The bearish kept rolling Ripple XRP price down until the $0.17 mark on the 19th of December and the monthly low of $0.182 mark on the 2nd of January 2020. XRP followed the bearish trend until the 6th of January when a breakthrough finally pushed the price above the $0.22 mark.

The monthly high came on the 19th of January 2020 when the price hit the $0.249 mark. While Bitcoin retail investments have also increased considerably, pushing the overall market.

Ripple XRP price chart 28th January 2019Ripple XRP price chart by Trading View

At the time of writing, Ripple XRP price stands at the $0.249 mark after recovering from a short bearish downtrend that started on the 23rd of January, pulling the price down towards a $0.21 mark.

Recent recovery has brought XRP back towards the $0.24 mark; however, head and shoulder pattern on the 24-hours chart shows uncertainty in the price movement.

Ripple XRP price movement: What to expect?

The third-largest cryptocurrency by market capitalization stands at a market cap of 10.161 billion United States dollars while the trading volume of over 1.758 billion United States dollars has been recorded in the past 24-hours.

Ripple XRP price chart 28 January 2019Ripple XRP price chart by Trading View

Ripple XRP price entered an aggressive bullish trend in the past 24-hours pushing the price from the daily low of $0.226 to the high $0.235. The high came right after the head and shoulder pattern, while the current support levels lie at $0.224.

The relative strength index (RSI) shows stands between the 87.36 and 86.60 points while, on the other hand, the moving average convergence/divergence MACD stands at the $0.232.

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