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Ripple (XRP) Price Analysis: Could the Sideway Action take it High?

The price of Ripple is going ups and downs, but it is not alone in the cryptocurrency market other currencies are suffering from the same fate. The value of the Ripple has also decreased by around 4% in the previous week. The currencies in the market are not enjoying the good time right now, also Ripple has lost around 15% and 37% in the 30 days and 90 days respectively. Instead of the fact that the Bitcoin value was increasing. Ripple is currently trading at $0.270675 and it is positioned on 3rd rank in the market.

Current Status of Ripple (XRP): Currently, the currency is trading at the value of $0.270675 and its value is decreasing by 1.03%. The BTC value of the currency is 0.00002618 BTC and its value is also decreasing by 2.86%. The market capitalization of the currency is $11,614,533,384 and the 24-hour of the Ripple is $1,213,007,815. The circulating supply of the currency is 42,909,539,227 XRP and the ROI of the currency is 4,508.14%.

XRP/USD 1-day chart analysis: The experts are saying that the Ripple is trading sideways in the crypto market, also, the currency tried to break the value of $0.30 but it failed and decreased below the value of $0.28. The most considerable resistance levels of the Ripple are $0.2811 and $0.30. The above this the value could achieve the price of $0.3177 and $0.33. If the resistance level of $0.33 gets powered by 100-day EMA and on the other hand, the 200-days EMA resistance levels are around the value of $0.34 and $0.25.

The closest support levels of the currency lie around the value of $0.2686 and $0.26. The other support levels are $0.2584, $0.25, and $0.2461. The trading volume of the currency stayed beneath the average. The RSI also wasn’t able to break overhead 50 and it means the sellers are in control. The Stochastic RSI is oversold region and giving bearish signals.

XRP/BTC 1-day chart analysis: The XRP/BTC value is also decreasing and it’s moving sideways. The currency is stuck between the region of 2,455 Satoshi and 2,800 sat. The closest resistance levels of the currency lie around the values of 2,710 sat, 2,800 sat and 3,000 sat. If we go higher, then the resistance around there will lie around the values of 3,200 sat, 3,400 sat and 3,800 sat, also the 100-days EMA powers the resistance level of 3,800 sat.

The main support levels of the Ripple lie around the value of 2,668 sat and 2,455 sat. Below these values, the important support will be around the value of 2,200 sat. The present RSI is 50, and it signals for bulls. If Ripple is able to break this then the bulls will take control. On the other hand, Stochastic RSI is showing bearish crossover signs which will result in lowering the market.

About Arushi Dubey

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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