We anticipate XRP/USD to spike higher today
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TL;DR Breakdown
- Ripple price analysis is bearish today.
- XRP/USD continued to decline overnight.
- XRP/USD is currently trading at $0.82
Ripple price analysis is bearish right now as the market continues to push lower. The $0.85 support will most likely be broken later today, pushing XRP/USD even further downward later.
XRP/USD continued to decline overnight, with support found around $0.85. A break below this level could see XRP/USD move even lower later today. Traders should remain cautious and keep a close eye on the market developments throughout the day.
The Ripple price has followed the general trend of most cryptocurrencies over the past few days, falling as sentiment in the market weakens. This can be seen across all major digital assets, including Bitcoin, Ethereum, and Litecoin.
It is unclear what will cause a reversal in sentiment and drive prices higher again. Still, some positive news or development will likely be needed before any sustained bullish movement occurs.
XRP/USD is currently trading at $0.82, down over 12% on the day. The next key support level is around $0.75, with a break below this likely to see XRP/USD move even lower. For now, traders should remain cautious and watch for any potential reversal signs throughout the day.
Over the past few days, the relative calm in the cryptocurrency markets may be coming to an end as prices continue to move lower. Ripple is no exception, with XRP/USD currently down over 12% on the day. The next key support level is around $0.75, with a break below this likely to see XRP/USD move even lower. For now, traders should remain cautious and watch for any potential reversal signs throughout the day.
XRP/USD continued to decline overnight, with support found around $0.85. A break below this level could see XRP/USD move even lower later today. Traders should remain cautious and keep a close eye on the market developments throughout the day.
XRP/USD 4-hour chart: XRP looks to break lower?
On the 4-hour chart, we may see the Ripple price begin to move lower around $0.85, which will likely lead to more losses later today.
The price of Ripple has been trading in a bear market for the past seven days. Following a peak of $1.02 on December 23, XRP/USD experienced significant resistance to advance further, resulting in a fall to $0.90.
Traders will be looking to buy back into the market as soon as possible, so it’s worth noting that there was a minor consolidation period ahead of the weekend. On Sunday afternoon, a rapid rise brought about a solid lower high at $0.95. Ripple then experienced another sell-off from there. Until yesterday, the market fell by more than 10% when support emerged at $0.85.
On the other hand, Bears did not relent overnight, gradually driving the Ripple value lower. We may expect to see XRP/USD break below later today, resulting in a larger proportion of the prior rally being reversed.
Ripple Price Analysis: Conclusion
Ripple price analysis is bearish today as we anticipate more downside to follow as the $0.85 level will not be able to slow down the market for long. As a result, XRP/USD is expected to drop even further in the coming days.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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