Ripple (XRP) Price Analysis : XRP Price Reaching And Increasing Vulnerability To Break Below Critical Level Of $0.20

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • The current price of XRP was finally showing sustainability after breaking the resistance level of $0.18.
  • However, the resistance level of $0.23 keeps allowing the bears to come into play again.
  • The XRP/BTC pair is also performing positively with the overall gain of 0.52% bringing the level to 0.00002123 BTC. 

Capture
 Source: Coinmarketcap

From the starting of May, Ripple XRP is enjoying pricing recovery due to the significant bullish momentum in the market. It crossed the major hurdle of $0.20 without any hesitation and reached its critical resistance area of $0.23. Due to which XRP Price started facing a heavy downfall which resulted in significant price pullback. It touched the major support level of $0.15 and currently broke the resistance of $0.18 too. Ripple XRP recently lost its top third position in the market.

However, crossing the crucial mark of $0.20 will be a positive sign for the XRP. A break above the price level of $0.23 which pushes the XRP prices to a safe zone. The current price is $0.20 with an overall gain of 1.26%. The market capitalization is $8,821,228,445 and volume traded of $1,977,310,336.  

Ripple XRP Price Analysis

Screenshot (4)
Source: Tradingview

The technical chart reflects on the bullish momentum build by Ripple from the starting of May which is later followed by the price recovery line. XRP touched its month-high of $0.23 during its bullish momentum and currently on the vulnerable level of $0.20 with negative momentum.

The technical indicators and oscillators suggest that the crucial price level of $0.20 will provide XRP the needed boost. MACD levels have reached the bearish zone with significant buying volume which is a positive sign. RSI is also reaching a neutral level of 50 in the graph with a positive divergence. CCI is also in the normal region but close to the oversold zone with positive nature.

Resistance level: $0.23

Support level: $0.20 and $0.16

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