Ripple price analysis: XRP down to $0.837 as bearish development continues
https://ift.tt/eInTvkH
TL;DR Breakdown
- Ripple price analysis is bearish today.
- Strong resistance is found at $0.862.
- Support for XRP/USD is present at $0.818.
The recent Ripple price analysis is showing signs of bearish activity, as the bears have returned back to the price charts. After spiking high earlier, the price went down during the last week, but the bulls also managed to escape the bearish pressure at some points. However, the trend is in favor of bears today as a deficit in price has been recorded, the price has lowered up to $0.837 in the last 24-hours. Further decrease in price can be expected as the hourly prediction is in the bearish direction as well.
XRP/USD 1-day price chart: Price levels stumbling again
The one-day Ripple price analysis shows a decrease in the coin value after the bearish return. The bears have made a successful attempt at making a comeback, as the price has decreased up to $0.837 today. Although the past week hindered bullish price movement, as the XRP/USD has been at a loss of 2.75 percent over the last seven days, the situation has been the same today. The trading volume has also decreased by 13.42 percent over the last day as well.
The moving average (MA) value is present at $0.827, still a little lower as compared to the current price. The volatility has increased, which is evident from the expansion of the Bollinger bands indicator. The upper Bollinger band value has moved on to the $0.936 level, whereas the lower Bollinger band value moved to $0.521, representing the strongest support for XRP price.
The Relative Strength Index (RSI) score has decreased up to index 60 as well, which indicates negative market sentiment for XRP today. However, the RSI is still at a good neutral position.
Ripple price analysis: Recent developments and further technical indications
The four-hour Ripple price analysis confirms the downtrend for today. The price has gone through a steady decline at the start of the trading session, after which the bulls tried to make a comeback but were rejected soon, and the price has been recorded stumbling down again in the last four hours as well. At the same time, the price oscillation has been slow since late night, which is confirmed by the size of the last two candlesticks, which are quite small. Moreover, the moving average value for the four hours price chart is now settled at $0.837.
The slightly increasing volatility has changed the Bollinger bands average to $0.832. The upper Bollinger band value has now moved to $0.855, whereas the lower Bollinger band value has moved down to $0.781. The bearish trend has caused the RSI score to decrease as well. But now, the RSI curve has flattened out, as it is now at index 56. However, the indicator stands neutral at the time of writing and does not hint at any further changes.
Ripple price analysis: Conclusion
The one-day and four-hour Ripple price analysis is dictating a decrease in price up to $0.837. The bullish momentum has been subsided, as now the bears are leading the game. The bearish momentum is aggravating, and the support present at $0.818 is still quite low as compared to the current price level. However, XRP/USD price may observe a slight reversal at the said support zone.
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.
Cryptocurrency
