Ripple price analysis: XRP rebounds from $0.70, another attempt to break higher today? After taking a hit last week, Ripple’s XRP is bouncing back today. As of writing, the currency is trading at $0.69824, up 0.51% on the day. It hit a low of $0.68224 on Tuesday, May 30, 2018. Ripple price analysis: XRP rebounds from $0.70, another attempt to break higher today? Ripple price analysis: XRP rebounds from $0.70, another attempt to break higher today? The question is, will this XRP recovery hold? XRP price analysis: XRP rebounds from $0.70, another attempt to break higher today?
Ripple, the third largest cryptocurrency by market cap, has been very volatile recently. Ripple price has fluctuated from $0.60 to $0.70 again to $0.82 in a matter of days. This is likely due to the recent surge in the price of Bitcoin, which is the most widely-traded cryptocurrency. BTC remains the largest cryptocurrency by market cap, and is still the most liquid form of digital currency, making digital currency prices more volatile. Ripple, the third largest cryptocurrency by market cap, has been very volatile recently. Ripple price has fluctuated from $0.60 to $0.70 again to $0.82 in a matter of days. This is likely due to the recent surge in the price of Bitcoin
Ripple’s XRP is back. After a brutal 22-day slump, the native coin has recovered from $0.70000 to $0.80000 overnight, suggesting an initial break above $0.80000 was not enough to prevent the coin from dropping further. On the back of the bullish price action, the coin peaked at $0.90000 Friday on the Bitfinex exchange, but has since drifted back to $0.77000.. Read more about realistic xrp price prediction and let us know what you think.Summary of the situation
- The XRP went up yesterday.
- Support can be found at the MA 100.
- Another attempt at takeoff is expected.
Ripple’s price analysis for today is bullish, as the market hit $0.70 resistance last night and declined in recent hours. Therefore, we can expect the XRP/USD to move higher today and try to break through the previous high.
Heatmap for crypto-currencies. Source: Coin360
The general market has moved into negative territory over the past 24 hours. Bitcoin lost 3.2 percent and Ethereum lost 1.7 percent. The rest of the market follows this downward trend with moderate losses.
Ripple price movement in the last 24 hours
The XRP/USD traded in a range of $0.672 to $0.7078, indicating low volatility. Trading volume remained virtually unchanged at $1.9 billion. The total market capitalization is about $31.3 billion, which puts the cryptocurrency in 7th place overall.
XRP/USD 4-hour chart – XRP still respects $0.70 resistance
On the 4-hour chart, we see that the price of Ripple has pulled back from the $0.70 resistance level and is gearing up for another upward push today.
Four hour chart of XRP/USD. Source: TradingView
Overall, the market is moving within last week’s strong bearish momentum. After falling more than 50%, the XRP/USD established support around the $0.50 level, from where the market began to recover some of its losses.
XRP initially moved to $0.70 and, after a small pullback, moved back to $0.73, where resistance was found near the blue line of the 100-period moving average. In addition, a rising support line supported the rally early last week. However, Ripple broke below support early last week, suggesting that the bulls are losing momentum.
An upward rally followed to the $0.70 resistance level, where a small divergence was seen overnight. This price action has led to a small pullback in the last few hours as the bulls prepare to take the market higher.
Given the recent price action in Ripple, we should see a breakout to the upside today and retest the $0.73 level. If there is no further rise, there could be another decline later in the month that would last several weeks.
Ripple price analysis: Supplement
Ripple’s price analysis is bullish today as the market prepares for another push higher after testing the $0.70 resistance level and falling back to $0.67. As a result, today we should see XRP/USD surpass the previous high of $0.74 and reach $0.80.
While we wait for Ripple to rise above $0.70, check out our guides on the benefits of DeFi, bitcoin commissions, and what to buy with bitcoins.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The price of Ripple’s native token, XRP, struggled to hold its ground Monday as the market digested the latest failure of China’s largest cryptocurrency exchanges to comply with a ban on trade.. Read more about ripple news and let us know what you think.
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