The third-largest cryptocurrency by market cap Ripple XRP price is now standing at the $0.285 mark after taking a strong hit on Sunday as most of the important cryptocurrencies and stablecoins.
In the past 24-hours alone, Ripple XRP price has seen serious thrashing in the market; however, unlike Bitcoin, the XRP managed to sustain some level of integrity by the time of writing.
In the past 24-hours, Ripple XRP price fell as low down to the $0.270 mark at one point; however, an immediate bullish come back took the price back up to the $0.286 mark within the next two hours. Following the bullish comeback, XRP price has been hovering above $0.2800 mark.
Ripple XRP price movement: What to expect?
In the broader perspective, on the 7-day charts, Ripple is still down by a good margin from the trading price of $0.34533 recorded on the 15th of February.
The resistance towards the $0.35 became impenetrable for XRP price, pushing it below the 20-day exponential moving average (EMA) point.
If the bearish consolidation takes grip of the Ripple XRP price movement, a further crash to the $0.260 range can be expected. While on the other hand, if the cryptocurrency manages to keep the current support levels, the XRP pair trading price can rise as high up as to the previous 7-day high.
All in all, given the current market situation, Ripple XRP is just as volatile as Ethereum, and the trend is rather complicated; caution with a $0.26 long position is suggested for traders.
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Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.