XRP Price Set for Big Drop !
From the past couple of days, bitcoin price struggled to gain momentum above $15,500 and $15,600 resistance levels. However, the BTC price remained well bid above the $15,000 and $15,200 support levels. The price seems to be stuck in a range and it is currently trading at $15,401.28.
Meanwhile, few altcoins are showing decent gains, including ethereum, LINK and the rest are bleeding red with minor loss. ETH/USD climbed above the USD 455 resistance and it might settle above the USD 460 resistance. On the other hand, the XRP price plunged to $0.255.
Ripple – XRP Price Analysis
At the time of writing, XRP is trading at $0.255698 with a minor loss. Ripple is currently holding a market cap value of $11,586,326,071 with $3,168,385,567 trading volume.
As per the below chart, the XRP price is currently close to its 20, 50, and 100-day moving averages.
Meanwhile, the Relative Strength Index suggests that the price is still largely in the hands of the bulls until a breakdown is confirmed, perhaps by a daily close under the 50 SMA.
On the other hand, recovery will come into the picture if Ripple reclaims the position above $0.26. Price action above $0.27 is likely to call for more buy orders as XRP bulls plan the angle of attack to overcome the resistance at $0.3.
- The MACD indicator is slowly moving in the bullish zone.
- The RSI indicator is currently just above the 50 levels.
- Major Support Levels – $0.2515, $0.2500, and $0.2460.
- Major Resistance Levels – $0.2600, $0.2640, and $0.2720.
Delma Wilson Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide