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Ripple Price Analysis: XRP is struggling to Remain near support

  • The pair of XRP/USD technical indicators like MACD is showing bearish Trends.
  • Support for XRP/USD pair found at $0.2450, $0.2410, and $0.2350.
  • Resistance for XRP/USD pair found at $0.2510, $0.2600, and $0.2620.

Current Status of Ripple (XRP): The currency is trading at a value of $0.2485504 and its value is increasing by 2.96%. The market capitalization for the currency is $10,715,914,287 and the 24-hour volume of the currency is $1,172,904,225. The circulating supply of the currency is 43,121,735,112 XRP and the ROI is 4,130.69%.

Yesterday, the Ripple was trading at the value of $0.255922 at 07:19 UTC and its market capitalization is $11,035,780,273. The whole day, the currency was trading above the value of $0.2500 and the total increasing in the value of the currency was 10%. The currency also broke out the hourly SMA of 100-day and the currency was broken overhead the price of $0.02600. Unfortunately, the currency was not able to cross the resistance level of $0.2620, the currency price was close to $0.2618 but it soon started to decrease.

Price Analysis: The currency experience the break beneath the 50% fib retracement level of the last forward move from the low of $0.2352 and high of $0.261, at that time the currency’s value was examining the important support level of $0.2450 and hourly SMA of 100. Moreover, 61.8% Fibonacci retracement level of the currency last forward from the low of $2352 to a high of $0.2618 is offering the support to the currency.

The experts are predicting that the currency’s value is decreasing today and it is likely to go below the key support level of $0.2450. They are also predicting that it could further go down close to the support level of $0.2350. There is a support level present at the value of $0.2420 and the 76.4% Fibonacci retracement level of the last above move from the low of $0.2352 to a high of $0.2618.

On the hourly chart of the Ripple, the nearest resistance levels are at the values of $0.2500 and $0.2510. If the currency is able to break out these two resistances then it could go further up to the resistance levels of $0.2600 and $0.02620. If the currency is able to do this then it could achieve a value of $0.2850.

However, the chart of the ripple shows that the currency is facing difficulties to remain at the support level of $0.2450. On the other hand, if it fails to stay near this support then the chances are that it could test the value of $0.2350 support level and if bulls fail the currency at this support level too, then it could reach up to the value of $0.2150.

Technical Indicators: The pair of XRP/USD technical indicators like MACD is showing potential in the bearish area and it is in the red zone and, the RSI is at the level of 50 and it is going down. The main support levels of the are pair are $0.2450, $0.2410, and $0.2350. The main resistance levels of the pair are $0.2510, $0.2600, and $0.2620.

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About Arushi Dubey

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Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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