At the time of writing, the Ripple price is trading at $0.6340, and the 7-day Ripple price forecast from Canadean states that “The 7-day moving average is $0.6435. The close price of the previous business day has been revised from the original $0.6421 to $0.6462. The minimum price target is $0.64, the average price target is $0.65 and the maximum price target is $0.67.
It was an interesting week for Ripple. XRP/USD made a double top and failed to move above the $0.62 level. It is likely to face a strong bearish pressure below $0.62.
The Ripple price held its ground against Bitcoin yesterday, despite the “flash crash” that occurred on the Bitfinex exchange. The XRP/BTC pair traded above 0.6400 yesterday, but bitcoin suddenly dropped below 0.6100, pulling the XRP/BTC pair with it. The downward momentum was so strong that the XRP price dropped below $0.62 for the first time since February. The XRP price is now preparing to drop towards the $0.5950 level.. Read more about xrp news and let us know what you think.
TL;DR Summary
- Yesterday, the price of XRP continues to rise.
- Overnight, a level of consolidation around $0.61 was achieved.
- The XRP/USD pair is bracing for further losses.
As additional upward was severely denied overnight, Ripple price research suggests that negative momentum will continue next week. As a result, we anticipate XRP/USD to begin falling during the next 24 hours, with a target of $0.52 next week.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the cryptocurrency market has seen a modest positive trend. Bitcoin gained 1.77 percent, while Ethereum gained 0.35 percent.
Price trend of Ripple in the past 24 hours: Ripple rises to $0.62 but refuses further gains.
The price of XRP/USD fluctuated between $0.5982 and $0.6207, suggesting a low level of volatility. The overall trading volume has dropped by 9.42% to $1.86 billion. Meanwhile, the entire market value of the cryptocurrency is approximately 27.84 billion dollars, putting it in sixth position worldwide.
XRP/USD 4-hour chart: Is XRP on the verge of another drop?
The Ripple price is refusing additional upward on the 4-hour chart, as bears prepare to seize over.
4-hour chart of XRP/USD. TradingView is the source of this information.
After a rapid surge to $0.73 on July 29th, Ripple price movement has continued to trade in a strong negative trend over the last several weeks. After failing to rise higher from the $0.73 level, XRP/USD began to trend downward, continuing the general negative momentum that had been in place for many months.
On Monday, a sharp drop resulted in a slightly higher low of $0.52, suggesting that bulls may be gaining traction slowly. XRP/USD, however, set a new lower high at $0.62 and denied additional upward following a more than 20% rise in recent days.
This Ripple price action pattern suggests that bulls have run out of steam, and a reversal is likely to occur early next week. As a result, XRP/USD is poised to take another step down, testing the key support level around $0.50-$0.52. We may anticipate a lot more decline in the coming weeks if the support area is breached.
Conclusion of the Ripple Price Analysis
The Ripple price analysis for the next days is negative, as XRP/USD has recovered almost 20% from the $0.52 bottom and is now rejecting any higher. As a result, we anticipate XRP/USD to begin trading lower next week, retesting the $0.50-$0.52 support level.
While you wait for Ripple to reach new lows, check out our guides on Bitcoin fees, what you can buy with Bitcoin, and what DeFi is.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
It has become routine for XRP to reject any attempts to climb higher and consolidate above $0.62 , and there are some bearish signs to this, such as lower volume on the XRP-USD pair, rising Ripple price-percentage divergence, and a bearish engulfing pattern on the daily RSI.. Read more about xrp technical analysis and let us know what you think.
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- xrp price
- xrp to usd
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