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- XRP price has been trading inside a new consolidation phase above the prior one over the daily price chart.
- XRP crypto is trading at 20 and 200-days Daily Moving Average and is still above 50 and 100-days DMA.
- The pair of XRP/BTC is at 0.00002445 BTC with an intraday drop of 1.76%.
As soon as it reaches the $0.55 distribution threshold, the cryptocurrency would likely struggle to sustain its buyer base, according to XRP price prediction. For the price of XRP to stay above the consolidation stage, it has to find more buyers. While everything is going on, it appears that XRP bulls are dealing with some significant and inevitable sustainability challenges that must be overcome in order for the cryptocurrency to get back on track. However, the volume change shows some encouraging indicators as it has increased by 100.94% over the past 24 hours.
At its current estimated price of $0.475, XRP has lost 0.11% of its market capitalization over the previous 24 hours. However, the intraday trading session has seen a 100% spike in trade volume. Nevertheless, in order to prevent XRP from dropping below lower lows, purchasers must accumulate at a large rate.
The price of XRP struggles to hold steady and is steadily declining below the Daily Moving Averages of 20, 50, 100, and 200 days. The token needs the help of XRP bulls to be saved. Volume change, a sign of accumulation, is, nevertheless, below average and must increase for XRP to soar. The XRP price is currently searching for a strong support level to stop its downward trend.
What do Technical Indicators suggest about XRP?
The Relative Strength Index over the daily price chart shows that the token is leaving neutrality, which supports the XRP price projection. To escape this negative trap, the XRP price needs to gather buyers. The XRP coin’s downward trend is visible on the MACD. After a negative crossover, the MACD line is lower than the signal line. Investors in XRP must watch the daily chart for any directional changes.
Conclusion
As soon as it reaches the $0.55 distribution threshold, the cryptocurrency would likely struggle to sustain its buyer base, according to XRP price prediction. For the price of XRP to stay above the consolidation stage, it has to find more buyers. While everything is going on, it appears that XRP bulls are dealing with some significant and inevitable sustainability challenges that must be overcome in order for the cryptocurrency to get back on track. The XRP price is currently searching for a strong support level to stop its downward trend. The XRP coin’s downward trend is visible on the MACD. After a negative crossover, the MACD line is lower than the signal line. Investors in XRP must watch the daily chart for any directional changes.
Technical Levels
Support Level: $0.43 and $0.40
Resistance Level: $0.50 and $0.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
