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- 1 XRP price prediction is currently at $0.4760, XRP is down by 10.10% in the last 24 hours.
- 2 XRP recorded a 6.66% increase in 24-hour trading volume.
Ripple Price Prediction is suggesting that the XRP token is presently moving near a crucial support level on the one-day chart. The price is trading above the 200 EMA on the daily and weekly timeframe. The volume is seeing a slight increase in the green candles. The volume sticks indicate that buyers and sellers are presently neck to neck in the market.
The present value of XRP is $0.4760 and it has a market capitalization of around $25 Billion (press time).
Decrease in All-around LunarCrush Levels: Ripple
While most of the metrics are seeing a sharp decline in value on the weekly chart there is an abrupt rise in the social engagement levels on the LunarCrush platform.
The total bullish sentiment metric declined by 40.63%, whereas the total social engagement level is up by 45.35% which suggests that despite the recent decline, the community is tracking the token across various social media platforms.
Technical Analysis (1 Day Timeframe )
XRP price has been trading in a bull trend for the past few months. Ripple crypto price has been moving between two crucial price points which are acting as major support and resistance levels for the token. Observing the historical price action, it can be estimated that despite making frequent attempts, the buyers have not been able to attain $0.60 yet, as it is getting constant rejection from $0.56.
The buyers are persistent in their attempts and technical indicators are bullish overall, which puts the odds in the bulls’ favor. Hence, there is a strong probability that if the price does not break below the $0.40 support point, it may eventually reach the target near $0.60 in the near future.
The RSI oscillator is approaching the demand level with stable moves. The current value of RSI is 47.66 points, whereas the 14 SMA is providing support to it at 45.45 points.
Conclusion
As per the analysis, investor sentiments are bearish regarding the XRP price although a few substantial changes were observed in previous sessions which can create a positive impact on the future trend. Ripple price recently gave a bullish breakout above the 200 EMA which indicates that the trend is changing in the bulls’ favor.
Technical levels –
Support – $0.40
Resistance – $0.56 and $0.60
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
